AICPA Advocacy Updates: Penalty Relief & More #114

Simply Tax

The American Institute of CPAs (AICPA) Tax Policy & Advocacy Team and volunteer members continually monitor and advocate on legislative, regulatory, and administrative tax matters—and 2020 has been an exceptionally busy year. In this episode, guest Melanie Lauridsen, AICPA tax policy and advocacy senior manager, joins host Damien Martin to share what the team has been up to and provide an update on penalty relief and the electronic signature program. Here’s what’s covered:

• Who is Melanie Lauridsen? @3:14
• Penalty relief for late filing and late payment @05:32
• AICPA recommendations for the IRS @10:34
• How the IRS responded to AICPA recommendations @17:39
• The latest on IRS penalty relief @20:07
• Guidance regarding electronic signatures @21:50
• Permanent relief vs. temporary relief @24:28
• Forthcoming permanent solution for power of attorney forms @30:40
• Continuation of temporary relief for next filing season @32:36
• Key focus areas moving forward @33:46
• Comment letter process @34:51
• Closing thoughts @36:16

Learn more about our guest and get additional resources here.

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