ABA Urges Congress To Preserve Cash Accounting Method

Law360, New York (April 24, 2017, 6:36 PM EDT) -- The American Bar Association asked Congress to reject proposals in the latest tax overhaul that would force law firms and others to use an accrual accounting method instead of the standard, simple cash approach, saying this change could cause a "substantial financial hardship" for many.

In a pair of nearly identical letters to party leaders of the House Ways and Means and Senate Finance committees, ABA President Linda Klein said that while she commended Congress for taking steps to simplify the country's tax laws, she warned that the new approach would unfairly require law firms and other business services entities to...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Attached Documents

Related Sections


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!