Recommendations made to Congress to reform Subchapter S.

• Position: Brief article

Last month the AICPA made recommendations to members of the Senate Finance Committee about provisions the Institute believes should be included in the S Corporation Modernization Act of 2006. In its letter, the AICPA said the recommendations are designed to assist smaller businesses that frequently use that form of organization in remaining competitive. The Institute explained that its members understand and serve the technical and operational aspects of the vast majority of America's S corporations and are, therefore, in a unique position to also understand the...