WithumSmith+Brown has the depth and breadth of experience to fully understand the many challenges facing healthcare professionals today, and can offer a wealth of resources designed to ensure you have the skilled assistance necessary to meet your challenges head on. Our Healthcare Services Group is an assembly of our best and brightest professionals dedicated to working with you, bringing their collective knowledge and experience together to provide you with value added services while enabling you to focus on what truly matters in such challenging times: quality patient care.
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In response to the Senate Finance Committee's report "Cost Recovery and Accounting Dissolution Draft" ("Report"), released on November 21, 2013, the American Institute of Certified Public Accountants ("AICPA") has recently formed a coalition with five other organizations ("Coalition") and collectively sent a response addressed to Senators Baucus and Hatch. The genesis of the Report is a proposal to restrict the use of the cash basis method of accounting and would require many businesses to switch to the accrual basis method of accounting for tax purposes. The Coalition, in its letter, stated that they strongly oppose this proposal.
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