Tax cliff uncertainty is hurting small businesses, AICPA tells Congress

09/14/2012 | · Washington Post, The

Testifying at a House Subcommittee on Economic Growth, Tax and Capital Access hearing on Thursday, Jeffrey Porter, CPA, vice chair of the AICPA's Tax Executive Committee, urged Congress to quickly reach an agreement on expiring tax provisions. He emphasized that the current uncertainty over next year's income, capital gains, estate, gift and GST tax rates, as well as the fate of other expiring provisions, is preventing businesses from making informed decisions and impeding long-term tax and cash flow planning. He made several recommendations on behalf of the AICPA in both written and oral testimony.

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