Published in Last Word
Strong Member Firm response to an ACEC action alert encouraged 44 Senators to sign a bipartisan letter in support of preserving the cash method of accounting for engineering firms and other industries.
The Council and its coalition allies are working with Congressmen Blaine Luetkemeyer (R-MO), Mike Quigley (D-IL), Richard Hudson (R-NC), and Bradley Schneider (D-IL) to urge lawmakers to sign on to a similar letter of support. One hundred seventy-five Representatives have already signed on, but more are needed. Click here to access ACEC’s Legislative Action Center for more information and to contact your Representative.
ACEC’s efforts are in response to draft tax reform legislation that would limit the use of cash accounting solely to firms with less than $10 million in revenues and sole proprietors. This change would impose significant cash flow problems on many ACEC Member Firms because the vast majority of their costs are labor-related and must be paid well before firms are paid by their clients.
The deadline for Representatives to sign the letter is August 26th. For more information, contact Katharine Mottley, ACEC’s Director of Tax and Regulatory Affairs, at kmottley@acec.org.
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