Pub. 3 2021 Issue 6

N O V E M B E R / D E C E M B E R 2 0 2 1 8 nebraska cpas Nebraska congressional delegation the week of Oct. 25. Both Parks and Meyer are members of the AICPA Governing Council representing the state of Nebraska. Meetings were held with Rep. Adrian Smith, Sen. Deb Fischer, and Alan Feyerherm, who is chief of staff for Rep. Jeff Fortenberry. Among the topics covered were: • Providing taxpayers with targeted COVID-19 tax penalty relief from the underpayment of estimated tax penalty and late payment penalty for the 2020 tax year; • Granting the IRS authority to issue disaster relief in a timely manner in response to state-declared disasters; • Recognizing accounting as a Science, Technology, Engineering and Math (STEM) profession; and • Passing a Fiscal State of the Nation resolution that would ensure Congress is made aware of information in the federal financial statements so that they can gain a better perspective on the nation’s f iscal health. Since these meetings were held, the House has passed the resolution; it has yet to pass the Senate. In addition, a small group of members participated in an in-person “CPA Roundtable” on Nov. 12 with Congressman Don Bacon in Omaha. Discussion included the bipartisan infrastructure deal as well as the Build Back Better framework. Rep. Bacon was one of the 13 House Republicans who has come under fire for voting for the $1.2 trillion infrastructure bill. He pointed out that the bill includes $2.5 billion for Nebraska roads, will provide more access to rural broadband, and will help fix the country’s highways, seaports, and locks. Most of the bill is paid for by unspent COVID money, said Bacon. He hopes the Democrats’ other bill, for $1.75 trillion to fund President Joe Biden’s Build Back Better agenda, does not succeed. Bacon said there has been a lot of misinformation on the infrastructure bill and that people were trying to attach these two bills together. Thank You! Thank you for your membership and loyal support of the Nebraska Society of CPAs. We wish you a safe and joyous holiday season and look forward to serving you throughout 2022 and the years to come! t Joni Sundquist is president and executive director of the Nebraska Society of CPAs. You may contact her at (402) 476-8482 or joni@nescpa.org. NESCPA - Half Page Ad.indd 1 10/26/21 4:33 PM