As negotiations continue on the fast-approaching reconciliation bill, the AICPA remains active in its advocacy efforts, which includes pushing back on the implementation of a minimum book income tax on corporations. With a deadline of September 30, there is little time to pass a bill and sign it into law.

The Tax Structure Work Group (TSWG) is nearing the finish line of their five-year exercise to recommend a new fairer tax system in Washington. At their May meeting, the TSWG voted on a number of proposals and decision points in directing the Department of Revenue to model and draft proposal language for different taxes in Washington.

On Friday, March 4, 2022, House Bill 1648 and Senate Bill 5519 were each passed unanimously in the State Legislature. These bills were previously passed unanimously as they worked their way through the legislature. Both bills are identical and will implement a new CPA – Inactive license status while phasing out the previously issued Certificates. They have been sent to Governor Jay Inslee where he is expected to sign one of the bills into law in the coming weeks.

Find the latest resources from various federal and state agencies regarding COVID-19. We're monitoring and updating this list as developments continue to unfold.

On Thursday, February 24, the AICPA and 52 state CPA societies sent a letter to Assistant Treasury Secretary Lily Batchelder and IRS Commissioner Charles Rettig regarding widespread concerns on the Schedules K-2 and K-3 reporting.