March 18, 2020
Mr. Larry Kudlow
Director, National Economic Council
The White House
1600 Pennsylvania Avenue, NW
Washington, DC 20500
Dear Mr. Kudlow:
As the administration works with Congress to craft relief measures to assist individuals and industries impacted by COVID-19, the Virginia Society of CPAs (VSCPA) is writing to express our support for including tax-exempt associations suffering from event cancellations and reduced meeting attendance in any federal aid package or supplemental appropriations measures. The American Society of Association Executives (ASAE) recently submitted a letter to the White House urging that tax-exempt associations experiencing economic fallout resulting from COVID-19 be included in any temporary aid package. We support ASAE’s position.
The American Institute of CPAs (AICPA) and state CPA societies — which collectively serve more than 429,000 members in the United States and worldwide — are nonprofit professional associations that may suffer economic harm as known cases of COVID-19 increase in the United States. While our members serve many areas of practice, a significant percentage of our members serve tax-exempt organizations. We are encouraged that there is long-standing recognition that tax-exempt associations and organizations — many of which operate much like small businesses — play a critical role in our nation and should therefore be included in any targeted federal aid measures.
We appreciate your consideration of these comments and welcome the opportunity to discuss these issues further. If you have any questions, please contact AICPA Senior Manager, Tax Policy and Advocacy Melanie Lauridsen at (202) 434-9235 or [email protected]; or AICPA Director of Congressional and Political Affairs Lauren Pfingstag at (202) 434-4208 or [email protected].
The VSCPA is the leading professional association in Virginia dedicated to empowering CPAs to thrive. Founded in 1909, the VSCPA has more than 13,000 members who work in public accounting, industry, government and education. Please feel free to contact me or VSCPA Vice President, Advocacy Emily Walker, CAE, at (804) 612-9428 or [email protected] if we can be of further assistance.
Stephanie Peters, CAE
President & CEO
Virginia Society of CPAs
CC: Sen. Mark Warner, Sen. Tim Kaine