The American Institute of CPAs has written to the head of the tax-writing House Ways and Means Committee voicing strong opposition to draft legislation that would limit the use of the cash method of accounting for pass-through entities and personal service corporations.
In a letter Friday to Ways and Means chairman Dave Camp, R-Mich., AICPA president and CEO Barry Melancon urged Camp to reconsider the proposal, which was included in the tax reform draft legislation that he proposed in February (see House Ways and Means Chairman Camp Releases Tax Reform Proposal).
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