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IRS Should Not Convene Small Business Advisory Review Panels, Says AICPA's TEC WASHINGTON, D.C., Oct. 20, 2000 (SmartPros) The Tax Executive Committee of the American Institute of CPAs urged Congress to pull the plug on a bill that would require the Internal Revenue Service to convene Small Business Advocacy Review Panels. "The unintended result of the Act would be to reduce the effectiveness of the current regulation process, which could have a strong negative, rather than positive, impact on small businesses," David A. Lifson, the Committee chair, wrote in the letter dated Oct. 13. "To enact legislation that would impair the timely issuance of tax regulations would only exacerbate the problems arising from the complexity of tax laws." The Small Business Review Panel Technical Amendments Act allows representatives of small businesses that may be affected by federal agency regulations to make oral presentations to a review panel for a proposed rule. In addition, the review panel - which consists of employees from within the Environmental Protection Agency, the Occupational Safety and Health Administration, and the IRS - must print the report of the review panel in the Federal Register within 180 days after receiving it. "On the surface that would seem to help small businesses, but with our experience we've seen that the impact is that it significantly slows down the release of regulations," said Lifson. "Anything that would delay regulation would, in our view, negatively impact small businesses." He added, "We think the hearts of the staff and the Senate are in the right place but adding additional layers of review would have the opposite of the desired effect." -- SmartPros News Staff Send comments to information@smartpros.com |
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