Because the AICPA is the national professional organization of CPAs, comprising approximately 330,000 members, when it comments on regulatory and legislative proposals, it speaks from a broad base of experience. Members advise clients on Federal, state and international tax matters and prepare income and other tax returns for millions of Americans. They provide services to individuals, nonprofit organizations, small and medium-sized businesses and America’s largest companies. This “broad base of experience” can be used to develop practical suggestions for closing a tax gap estimated to be around $300 billion.
Earlier this year, AICPA members received and responded to a tax gap questionnaire. The results are now being compiled and will soon be shared with members of Congress and the Administration, and will also be published in a future issue of The Tax Adviser.