The American Institute of CPAs (AICPA) released a statement on Wednesday applauding the passage of the Internal Revenue Service Math and Taxpayer Help Act.
On behalf of the AICPA, Melanie Lauridsen, vice president of tax policy and advocacy, issued the following statement:
“The IRS Math and Taxpayer Help Act represents common-sense reform that enhances IRS operations and improves the taxpayer experience. This new law directly addresses long-standing issues with how the IRS communicates and resolves mathematical or clerical errors on tax returns. By expanding access to abatement procedures and establishing a pilot program for better communication, this law provides greater fairness and due process, reduces confusion and stress, and offers taxpayers improved access to remedies.
“This law will also allow practitioners to more easily offer streamlined support to their clients while reducing the administrative burden to the IRS and enhancing trust in the tax administration system. The AICPA is proud to have endorsed this legislation when it was introduced and applaud its progress toward becoming law.”
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The IRS MATH Act, introduced in the Senate by Sens. Elizabeth Warren, D-Mass., and Bill Cassidy, R-La., cleared the upper chamber unanimously on Oct. 21, after previously winning approval in the House of Representatives on a voice vote in April. The bill is now headed to President Donald Trump’s desk.
U.S. Reps. Brad Schneider, D-Ill., and Randy Feenstra, R-Iowa, shepherded the bill through the lower chamber.
The bill that’s headed to Trump’s desk would require the IRS to provide taxpayers with a plain-English explanation of where they’d make a math mistake on their tax returns, Warren and Cassidy said in a joint statement. Taxpayers would have a 60-day window to fix the mistake.
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Tags: AICPA, Income Taxes, IRS, Legislation, Taxes
