The AICPA has made recommendations to the IRS on its 2024–2025 Priority Guidance Plan, including the corporate alternative minimum tax (AMT) and group exemption letters.
In a May 17 letter to the IRS, the AICPA encouraged the agency to issue guidance on several areas.
The letter also recommends the Treasury and IRS continue pursuing tax simplification, including using the simplest approach to accomplish a policy goal and offering clear, consistent definitions. Read more.