AICPA Tax Vice President Available to Discuss Federal Tax Cuts Being Debated by Congress

News provided by

American Institute of Certified Public Accountants

Sep 20, 2010, 04:09 ET

What Taxpayers Need to Know; How They Should Plan

WASHINGTON, Sept. 20 /PRNewswire-USNewswire/ -- President Obama and Congress are debating whether and how to extend the expiring Bush tax cuts. A vote in the House and Senate could take place over the next two weeks.

Edward Karl, vice president of taxation for the American Institute of Certified Public Accountants, is available to discuss, either on the record or for background purposes, what taxpayers should be aware of and how they should plan as this debate continues.

The decisions will affect these major individual income tax provisions:

  • Personal income tax rates
  • The estate tax
  • Long-term capital gains
  • Qualified dividends
  • Itemized deductions
  • Personal exemptions
  • Child tax credit
  • The so-called "marriage penalty"

About the AICPA

The American Institute of Certified Public Accountants (www.aicpa.org) is the national, professional association of CPAs, with more than 360,000 CPA members worldwide in business and industry, public practice, government, education, student affiliates, and international associates. It sets ethical standards for the profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination.

The AICPA maintains offices in New York, Washington, D.C., Durham, N.C., Ewing, N.J., and Lewisville, Tex.

SOURCE American Institute of Certified Public Accountants

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