CPAs Ask For Some Slack In Baucus Tax Reform Plan

Law360, New York (January 17, 2014, 2:11 PM EST) -- The American Institute of CPAs told the Senate Finance Committee Thursday that while it appreciates recent efforts spearheaded by Committee Chairman Max Baucus, D-Mont., to simplify the tax filing and administrative process, the committee should be more generous in extending filing dates and error thresholds.

In a set of public comments, the organization urged lawmakers to double the threshold amount of money that triggers filing corrections and allow employers and other filers to roll-over small reporting errors to the subsequent filing season, saying the recommendations will...
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