AICPA to Testify at May 9 IRS Hearing on Tangible Property Guidance
Carol Conjura, chair of the American Institute of CPAs Tax Methods & Periods Technical Resource Panel, will testify on May 9 at the IRS hearing on temporary regulations related to the deduction and capitalization of tangible property expenditures.
The IRS hearing is scheduled for 10 am ET at IRS Headquarters at 1111 Constitution Avenue, N.W., Washington, D.C.
Conjura will testify that the temporary regulations released by the IRS on Dec. 27, 2011 are too complex and burdensome, especially for small businesses, and will suggest an alternative to the regulation’s de minimis rule, which the AICPA believes could unfairly discriminate against smaller taxpayers.
The AICPA submitted written comments to the IRS about the guidance on April 17.