AICPA – Nearly Half U.S. Senators Sign Accrual Accounting Letter

Forty-six U.S. Senators signed a recentĀ letterĀ to Senate Finance Committee Chairman Ron Wyden (D-Ore.) and Ranking Member Orrin Hatch (R-Utah) encouraging them to preserve the ability of CPA firms and other businesses to use the cash basis of accounting for tax purposes. A provision contained in a tax reform draft released last year by then-Finance Committee…