Legislative Action Center




+ Beneficial Ownership Information (BOI)

+ Earned Income Credit information (ERC)

  + Accounting as a STEM Field

STEM is an acronym for Science, Technology, Engineering, and Math. Students looking for an area of study that will prepare them for a successful career often consider entering into a STEM field.  The U.S. Bureau of Labor Statistics projects that occupations in STEM are expected to grow by 10.5% through 2030, compared with 7.5% for non-STEM occupations.

Recognizing accounting as a STEM field will align the perception of the accounting profession to its current reality:

   - The accounting profession not only utilizes technology but innovates it to meet needs of businesses and protect the public interest.
   - Significant shifts in recent years in collegiate education; over 50 have changed their accounting programs to be STEM-designated.
   - Broader STEM designation will encourage younger and more diverse student engagement in accounting.

The following is the profession’s strategy related to pursing a STEM designation for accounting:

  - Reintroduce bills from 117th Congress allowing STEM funding in K-12 schools.
   - Renominate any not-approved Classification of Instructional Programs (CIP) codes from 2022.
   - State CPA societies and AICPA to advocate with colleges for CIP change.

Learn more about TXCPA’s CPA Pipeline Strategy.  


  + Permanent Disaster Relief Provisions

AICPA and TXCPA support legislation to improve the IRS’ authority to provide federal tax relief and provide flexibility to recover from a disaster using retirement funds.

AICPA endorsed bills:

   - The Filing Relief for Natural Disasters Act
   - The Disaster Retirement Savings Act 


  + Mobile Workforce Taxation

The pandemic fueled a rise in remote work across the country. More industries are now impacted by state tax withholding complexities. AICPA supports federal legislation of 30-days before income tax withholding.  Read this article.


  + Fiscal State of the Nation Resolution

Bipartisan Senate and House resolutions related to the nation’s long-term fiscal picture are drawing attention from the public and policymakers. Read the resolution.


  + Representing You on Capitol Hill

AICPA and TXCPA leaders visit with federal legislators annually to discuss the issues above and others related to protecting your profession and supporting your clients and companies. Stay tuned to your TXCPA member communications to learn more about this important advocacy issues. 





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