Bloomberg Tax
March 6, 2020, 7:37 PM

Bill to Expand Tuition Savings Plans Could Ease CPA Test Costs

Amanda Iacone
Amanda Iacone

Accounting’s main professional organization has thrown its support behind a bill that would allow 529 tuition savings plans to pay for licensing exams.

The American Institute of CPAs said Friday that the bill (H.R. 5339) would add to the eligible uses of 529 plans to include fees and expenses needed to obtain and maintain a post-secondary credential or professional license, like the certified public accountant or chartered global management accountant.

  • The changes would help thousands of CPA candidates—more than 85,000 were in the exam pipeline in 2018—by giving them more flexibility as they start their careers, AICPA ...