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By Eileen Sherr, CPA, CGMA, MST

To say a lot is happening in Washington, D.C., would be a huge understatement. CPAs working for or with governments and nonprofits need to be up to speed, particularly with taxes. As AICPA’s director of tax policy and advocacy, I am looking forward to sharing a Washington tax legislation update and outlook at PICPA’s Not-for-Profit & Government Accounting & Auditing Conference on June 25, 2025. In this blog, I’ve provided a brief look at some of what I’ll be sharing in my session.

Tax Reconciliation Legislation

CPAs need an update on the timing of tax legislation and the legislative process, how we got to where we are, and what is expected to happen in the following months. By June, there will be various provisions on the table, either proposed or possibly enacted depending on how fast Congress moves and agrees on legislation. Based on prior years – and the way Congress works these days – legislators likely will still be negotiating the various provisions.

I hope to have answers to questions such as the following:

• Will Congress modify any of the Tax Cuts & Jobs Act’s (TCJA) expiring provisions or just extend them – permanently or short-term, and all or just some of them, and if some, which ones?
• Will proposed bills have any revenue raisers?
• What will happen with the $10,000 state and local tax deduction cap?
• Will we once again have expensing of research and experimentation costs?
• Will Congress include other provisions besides those in the TCJA?
• Will Congress consider other (nonreconciliation) tax-related issues later this year, and what is the likelihood of such legislation getting enacted?

AICPA, the IRS, and Treasury

The AICPA continually advocates in Congress regarding tax legislation, and also regularly meets with Treasury and the IRS on other tax issues. The AICPA has submitted many comments this year, including our position on Circular 230 tax ethics issues, as well as various comments from our AICPA Tax Division committees and technical resource panels on issues they are working on.

In addition to the above, my presentation will cover our annual AICPA filing season feedback survey regarding IRS service and other IRS issues important to practitioners.

AICPA Tax Advocacy Resources

The AICPA has many tax advocacy resources to keep members updated on the issues. At PICPA’s June presentation, I plan to highlight and share the following:

• 2025 tax reform advocacy
• TCJA expiring provisions
• Planning for tax changes and tax reform
• 2025 tax policy and advocacy comment letters
• AICPA-endorsed tax legislation 118th and 119th Congress

CPAs will certainly benefit by learning about what Congress, Treasury, the IRS, and the AICPA have accomplished thus far this year and what is expected to happen in the months to follow. Take a look at the Not-for-Profit & Government Accounting & Auditing Conference agenda and register today. I’m looking forward to our session together on June 25!

Eileen Sherr, CPA, CGMA, MST, is director, tax policy and advocacy, with the AICPA. She can be reached at eileen.sherr@aicpa-cima.com.

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^{Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of the PICPA's officers or members. The information contained herein does not constitute accounting, legal, or professional advice. For actionable advice, you must engage or consult with a qualified professional.}