AICPA Renews Call for Congressional Action to Ban Tax Strategy Patents
NEW YORK, June 28 /PRNewswire-USNewswire/ -- The following is a statement by Barry Melancon, AICPA president and CEO, on the Supreme Court's ruling in Bilski v. Kappos:
"Today's Supreme Court decision in Bilski v. Kappos, while striking down a particular business method patent, does not stop the U.S. Patent and Trademark Office from continuing to issue tax strategy patents, and the AICPA renews its call on Congress to act quickly to pass legislation to ban tax strategy patents. The AICPA believes that no one should have a monopoly on compliance with the tax code. Taxpayers should not have to face the threat of royalties or lawsuits from holders of tax strategy patents and no one should have to pay more tax than he or she lawfully owes because someone else purports to hold a patent on tax planning.
"Tax strategy patents remain a serious and growing problem for taxpayers and their advisers. The Patent Office has issued 107 tax strategy patents and 145 patent applications are pending."
SOURCE American Institute of Certified Public Accountants