In a letter to congressional finance leaders on Monday, March 17, the AICPA listed increasing the threshold to $10,000 as one of its priorities.
Other AICPA priorities include providing permanent and consistent tax relief to individuals and businesses affected by natural disasters and the extension of some provisions of the Tax Cuts and Jobs Act.
The recommendations include several proposals from the AICPA's 2025 Compendium of Tax Legislative Proposals — Simplification and Technical Proposals, which contains 69 suggested simplifications of and technical changes to provisions in the Code.
"Our tax legislation priorities include recommended proposals that would reduce uncertainty and complexity for taxpayers, improve simplification within the tax system, and transform how taxpayers and tax practitioners interact with the IRS," said Melanie Lauridsen, the AICPA's vice president–Tax Policy & Advocacy.