Bill banning tax strategy patents introduced--AICPA urges passage.

• Position: Tax info

The AICPA commends the introduction of a bill by Senate Finance Committee leaders, Chairman Senator Max Baucus of Montana and ranking-minority member Senator Chuck Grassley of Iowa, to prohibit patents on tax planning methods. S. 2369, introduced in Nov. 2007, would halt the granting of tax strategy patents by the U.S. Patent and Trademark Office. The AICPA immediately urged the Senate to pass the bill, which is similar to the ban in the broad patent reform bill the House passed earlier in 2007.

"Taxpayers should not have to worry about infringing patents when preparing their tax returns," said Barry Melancon, AICPA president and CEO. "Neither should the tax professionals who prepare millions of tax returns each year. Tax patents are an obstacle to equal application of the tax laws. I urge the Senate to pass S. 2369 as an individual bill or as part of the larger patent reform...