IRS to Reduce Tax Burdens

A diverse business leader with a long history in accounting and finance, Richard McCarthy lives in Scarborough, Maine, and serves as chief financial officer of both DLTC Healthcare in Rockport and Avery Investments in Portland. Richard McCarthy of Scarborough, Maine, is a member of multiple professional associations, including the American Institute of CPAs (AICPA).

The largest association of accountants in the world, the AICPA supports more than 431,000 members in 130 countries. In addition to providing a range of educational and compliance services, the AICPA regularly speaks out on important industry policy issues.

In January of 2022, the AICPA partnered with roughly a dozen organizations to urge the Internal Revenue Service (IRS) to undertake significant measures to eliminate unnecessary tax burdens on both taxpayers and accounting practitioners during the 2022 tax season. The AICPA coalition (which also included organizations such as the National Association of Tax Professionals, the National Conference of CPA Practitioners, the National Association of Black Accountants, and Latino Tax Pro) sent a letter to the IRS that cited the “challenging times” as a reason to immediately put “reasonable penalty relief measures” into place.