AICPA Tax Division Update

_SUPPORTING AICPA MEMBERS THROUGH TAX ADVOCACY AND IN THEIR TAX PRACTICES_ Blake Vickers, Chair of the AICPA's Tax Executive Committee, and the AICPA Tax Policy & Advocacy and the Tax Practice & Ethics Teams will discuss the AICPA's advocacy efforts regarding implementation of the Inflation Reduction Act of 2022 (IRA ’22) and the IRS Strategic Operating Plan and how the AICPA supported members with the new rules and provisions. The panel will also discuss other tax legislative initiatives, including extenders, the Form 1099K threshold, and section 174 research and experimentation costs treatment, as well as the AICPA proposed extension filing safe harbor, disaster tax relief efforts, ERC issues, and IRS service updates. Finally, the updated AICPA’s tax standards, the Statements on Standards for Tax Services (SSTSs), will be covered.