Washington (Aug. 30, 2004) – The American Institute of CPAs has called on the Internal Revenue Service to ease the problem created by a series of recent regs and guidance that the AICPA said will create a hardship for small and middle-market taxpayers and accounting firms seeking to comply with certain accounting method change requirements for the treatment of intangibles.

The guidance, including final regs under Section 1.263(a)-4 and Rev. Proc. 2004-23, would require practitioners to “draft a new document, obtain a signature from a client that they would not otherwise be in contact with until next filing season, mail the document with the requisite attachments, and remember to make specific attachments to the return filed the next year,” said the AICPA.

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