AICPA endorses bill to mow small businesses to extend benefits to employees.

• Position: Legislation

The AICPA recently wrote Senator Olympia Snowe (R-ME) commending her for introducing S. 723, the SIMPLE Cafeteria Plan Act of 2005, which would allow small businesses to provide nontaxable benefits, such as flexible spending accounts, to their employees. The AICPA noted that it is a longstanding supporter of simplifying and expanding the law governing the establishment of cafeteria plans so that small business employees can also benefit.

The Institute also endorsed other provisions in S. 723 that would allow cafeteria plans of all...