News & Tax Alerts: Tax Alerts – Federal

Reaction to Tax Act's Unintended Consequences for Some Accounting Firms

Friday, December 22, 2017   (0 Comments)
Posted by: Ann Lupo

Dear LCPA Members,

We are sharing with you the AICPA's response to the monumental tax reform package now awaiting the President's signaturein which AICPA Presidentand CEO Barry C. Melancon, CPA, CGMA, expressed his concernsover the disparity in the tax treatment of accounting firms versus other pass-throughs.

We concur with AICPA's statement.

Read Barry Melancon’s statement on the passage of the Tax Cuts and Jobs Act

At the introduction of the legislation LCPA's advocacy efforts, in cooperation withAICPA's Legislative Team, included detailed discussions to make our concerns knownto the House and Senate. We will continue to keep you up to date as we work with AICPA and lawmakers to address those concerns while they finalize the tax reform process—your best interestand that of yourclients and employers is our top priority.

Ron Gitz, CPA, CGMA
LCPA Executive Director & CEO