An official from the American Institute of CPAs testified at a Senate hearing Tuesday on the need for Congress to pass legislation giving victims of natural disasters automatic access to permanent and timely tax relief.
AICPA Tax Executive Committee chair Troy K. Lewis told the Senate Finance Subcommittee on Taxation and IRS Oversight that the current system provides inconsistent tax relief. “In the past, Congress has considered each disaster as an isolated event and restricted any special tax relief to the individual event,” he pointed out.
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