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News

Regulatory Roundup: December 3 - 9

By:
Karen Sibayan
Published Date:
Dec 9, 2024

AICPA

Dec 09, 2024

Dec 06, 2024

Dec 05, 2024
 
Dec 05, 2024


CBO

Cost Estimate
December 6, 2024

As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 31, 2024

Cost Estimate
December 6, 2024
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 31, 2024

Cost Estimate
December 6, 2024
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 31, 2024

Cost Estimate
December 6, 2024
As reported by the Senate Committee on Commerce, Science, and Transportation on August 1, 2024

Cost Estimate
December 6, 2024
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 31, 2024

Cost Estimate
December 6, 2024
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 31, 2024

Cost Estimate
December 6, 2024
As reported by the Senate Committee on Commerce, Science, and Transportation on September 17, 2024

Cost Estimate
December 6, 2024
As reported by the Senate Committee on Commerce, Science, and Transportation on September 17, 2024

Cost Estimate
December 6, 2024
As reported by the Senate Committee on Commerce, Science, and Transportation on August 1, 2024

Cost Estimate
December 6, 2024

As passed by the Senate on October 31, 2024

Cost Estimate
December 6, 2024
As passed by the Senate on December 3, 2024

Cost Estimate
December 6, 2024
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 31, 2024

Cost Estimate
December 6, 2024
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 31, 2024

Cost Estimate
December 6, 2024
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 31, 2024

Report
December 5, 2024
CBO assesses the quality of the baseline projections of deficits and debt that it has made each spring from 1984 to 2023.

Cost Estimate
December 5, 2024
As reported by the House Committee on Natural Resources
on October 22, 2024

Cost Estimate
December 5, 2024
As ordered reported by the House Committee on Natural Resources on September 19, 2024

Cost Estimate
December 5, 2024
As passed by the House of Representatives on December 3, 2024

Cost Estimate
December 5, 2024
As ordered reported by the House Committee on Natural Resources on September 19, 2024

Cost Estimate
December 5, 2024

As ordered reported by the House Committee on Natural Resources on March 12, 2024

Cost Estimate
December 5, 2024
As passed by the House of Representatives on December 3, 2024

Cost Estimate
December 5, 2024
As ordered reported by the House Committee on Natural Resources on September 19, 2024

Cost Estimate
December 5, 2024
As reported by the House Committee on Natural Resources on November 14, 2024

Cost Estimate
December 5, 2024
As ordered reported by the House Committee on Natural Resources on September 19, 2024

Cost Estimate
December 5, 2024
As reported by the House Committee on Natural Resources on November 18, 2024

Cost Estimate
December 5, 2024
As ordered reported by the House Committee on Natural Resources on September 20, 2023

Cost Estimate
December 5, 2024
As reported by the Senate Committee on Health, Education, Labor, and Pensions on June 22, 2023

Report
December 5, 2024
CBO provides estimates on how not extending the expanded premium tax credit will affect the number of people without health insurance and average gross benchmark premiums for plans purchased through the marketplaces.

Blog Post
December 4, 2024
CBO’s Director describes how expiring provisions of the 2017 tax act affect the agency’s baseline projections and reviews some information that has become available since CBO first estimated the effects of the tax act in April 2018.

Presentation
December 4, 2024

CBO describes how it uses its capital tax model, called CapTax, to estimate the effects that changes in deductions to recover the cost of new investment have on the incentives to invest in capital.

Presentation
December 4, 2024
CBO’s economic forecast reflects current law, including the expiration, at the end of 2025, of some provisions of the 2017 tax act. CBO analyzed how the expiration of those provisions affected projections that it published in February 2024.

Cost Estimate
The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. CBO estimates the effects of those bills on direct spending and revenues.

Blog Post
December 4, 2024
CBO announces the release schedule for several upcoming publications that will provide insights on the federal budget and the economy.

Cost Estimate
December 4, 2024
As reported by the Senate Committee on Energy and Natural Resources on September 10, 2024

Cost Estimate
December 4, 2024
As reported by the Senate Committee on Energy and Natural Resources on September 10, 2024

Cost Estimate
December 4, 2024
As reported by the Senate Committee on Energy and Natural Resources on December 20, 2023

Cost Estimate
December 4, 2024
As reported by the Senate Committee on Energy and Natural Resources on January 9, 2024

Cost Estimate
December 4, 2024
As reported by the Senate Committee on Energy and Natural Resources on May 16, 2024

Presentation
December 3, 2024
Presentation by Sheila Campbell and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies Division, and David Torregrosa, an analyst in CBO’s Financial Analysis Division, at the Mortgage Bankers Association Webinar.

Cost Estimate
December 3, 2024

As ordered reported by the House Committee on Financial Services on May 16, 2024

Cost Estimate
December 5, 2024
As passed by the House of Representatives on December 3, 2024

Cost Estimate
December 5, 2024
As ordered reported by the House Committee on Natural Resources on September 19, 2024

Cost Estimate
December 5, 2024
As reported by the House Committee on Natural Resources on November 14, 2024

Cost Estimate
December 5, 2024
As ordered reported by the House Committee on Natural Resources on September 19, 2024

Cost Estimate
December 5, 2024
As reported by the House Committee on Natural Resources on November 18, 2024

Cost Estimate
As ordered reported by the House Committee on Natural Resources on September 20, 2023

Cost Estimate
December 5, 2024
As reported by the Senate Committee on Health, Education, Labor, and Pensions on June 22, 2023

Report
December 5, 2024
CBO provides estimates on how not extending the expanded premium tax credit will affect the number of people without health insurance and average gross benchmark premiums for plans purchased through the marketplaces.

Blog Post
December 4, 2024
CBO’s Director describes how expiring provisions of the 2017 tax act affect the agency’s baseline projections and reviews some information that has become available since CBO first estimated the effects of the tax act in April 2018.

Presentation

CBO describes how it uses its capital tax model, called CapTax, to estimate the effects that changes in deductions to recover the cost of new investment have on the incentives to invest in capital.

Presentation
December 4, 2024
CBO’s economic forecast reflects current law, including the expiration, at the end of 2025, of some provisions of the 2017 tax act. CBO analyzed how the expiration of those provisions affected projections that it published in February 2024.

Cost Estimate
December 4, 2024
The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. CBO estimates the effects of those bills on direct spending and revenues.

Blog Post
December 4, 2024
CBO announces the release schedule for several upcoming publications that will provide insights on the federal budget and the economy.

Cost Estimate
December 4, 2024
As reported by the Senate Committee on Energy and Natural Resources on September 10, 2024

Cost Estimate
December 4, 2024
As reported by the Senate Committee on Energy and Natural Resources on September 10, 2024

Cost Estimate
December 4, 2024
As reported by the Senate Committee on Energy and Natural Resources on December 20, 2023

Cost Estimate
December 4, 2024
As reported by the Senate Committee on Energy and Natural Resources on January 9, 2024

Cost Estimate
December 4, 2024
As reported by the Senate Committee on Energy and Natural Resources on May 16, 2024

Presentation
December 3, 2024
Presentation by Sheila Campbell and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies Division, and David Torregrosa, an analyst in CBO’s Financial Analysis Division, at the Mortgage Bankers Association Webinar.

Cost Estimate
December 3, 2024

As ordered reported by the House Committee on Financial Services on May 16, 2024

Cost Estimate
December 2, 2024
As ordered reported by the House Committee on Small Business on September 10, 2024

Cost Estimate
December 2, 2024
As reported by the House Committee on the Judiciary on
November 22, 2024

Cost Estimate
December 2, 2024
The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. CBO estimates the effects of those bills on direct spending and revenues.

Cost Estimate
December 2, 2024
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 31, 2024

Cost Estimate
December 2, 2024

As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on September 25, 2024

FAF

December 5, 2024

December 2, 2024

FASB

December 5, 2024

December 3, 2024

GAO

GAO-25-106969
Published: Nov 7, 2024 . Publicly Released: Dec 9, 2024 .

The Veterans Health Administration operates one of the nation's largest health care systems—serving millions of veterans. In 2024, VHA reorganized to eliminate overlap and fragmentation of responsibilities across its offices that oversee compliance, risk management, internal audits, and medical investigations. Among other things, the reorganization highlighted VHA's need for a workforce plan. Having a plan would help ensure these offices have the staff they need...

GAO-25-107214
Published: Dec 5, 2024 . Publicly Released: Dec 5, 2024 .

If someone infringes on your patent, you can sue—if you can afford millions of dollars in legal fees. Or you can use "third-party litigation funding," which is when an unrelated company pays for the lawsuit in exchange for some of the proceeds if the case succeeds. A substantial proportion of patent lawsuits are estimated to be funded this way. Most plaintiffs aren't required to disclose...

GAO-25-106445
Published: Dec 4, 2024 . Publicly Released: Dec 4, 2024 .

DOD health care providers deliver care where military operations and humanitarian missions take place. Such "operational settings" include hospital ships, field hospitals, and aircraft carriers. To ensure quality care, Navy, Air Force, and Army must review providers' qualifications to deliver specific health care services (e.g., trauma care) in operational settings. And they must routinely evaluate the providers' care. Navy and Air Force report having procedures...

GAO-25-106161
Published: Nov 19, 2024 . Publicly Released: Dec 4, 2024 .

Some 401(k) plans now offer the option to invest in crypto assets like bitcoin. While all investments have risks, our analysis shows that investment in selected crypto assets is uniquely volatile. The potential for high returns can come with considerably high risk. Available industry data suggests that 401(k) investment in crypto assets remains low. But the Department of Labor still doesn't have the data to...

GAO-25-107179
Published: Dec 4, 2024 . Publicly Released: Dec 4, 2024 .

The U.S. relies on internet-connected devices for essentials like power and water as well as everyday items like smart speakers. Federal agencies covered by a 2020 law were told to inventory their internet-connected devices by the end of FY 2024 and document how their cybersecurity aligns with federal standards. As of July 2024, 9 agencies said they wouldn't make the inventory deadline. Agencies can get...

GAO-25-107220
Published: Nov 12, 2024 . Publicly Released: Dec 4, 2024 .

Millions of Americans buy health insurance from their state marketplaces. Marketplace plans must cover essential health benefits, such as hospital stays. Many people can get a federal tax credit—paid directly to their insurance companies—to offset the part of the premium that pays for these benefits. States may require plans to cover additional benefits, but federal funds can't be used to offset the part of the...

GAO-25-107302
Published: Dec 3, 2024 . Publicly Released: Dec 3, 2024 .

We reviewed how Department of Homeland Security law enforcement agencies use detection and monitoring technologies without warrants. These include drones and pole-mounted cameras used in public. This can raise civil rights, civil liberties, and privacy concerns. DHS: Uses over 20 technologies such as facial recognition and license plate readers Doesn't always address key privacy protections in policies, such as ensuring only relevant personal information is...

GAO-25-106728
Published: Dec 3, 2024 . Publicly Released: Dec 3, 2024 .

The Navy's amphibious fleet transports Marines and their equipment, including vehicles and aircraft, for critical missions. The Navy must maintain a fleet of 31 operational ships to meet these needs. But half of the fleet is in poor condition and some ships have been unavailable for years at a time. To save money, the Navy proposed early retirement for some ships and cancelled critical maintenance...

Published: Dec 3, 2024 . Publicly Released: Dec 3, 2024 .

Federal farm loan programs provide credit when farmers and ranchers can't secure a commercial loan. Disruptions from the COVID-19 pandemic and climate-related weather events put some at risk of falling behind on loan payments and potentially losing their farms and ranches. We reviewed USDA's distribution of $3.1 billion appropriated for debt assistance in 2022 (as of April 2024). USDA had distributed $2.3 billion to delinquent...

GAO-25-107674

Published: Dec 3, 2024 . Publicly Released: Dec 3, 2024 .

IASB

9 Dec 2024

9 Dec 2024

4 Dec 2024
 
4 Dec 2024
 
3 Dec 2024
 
 

3 Dec 2024

IRS

IR-2024-308, Dec. 6, 2024 — On the final day of National Tax Security Awareness Week, the Internal Revenue Service and its Security Summit partners urged tax professionals to reassess their plans for protecting themselves and their clients’ sensitive information amid increasing attempts by identity thieves to steal tax data.

IR-2024-307, Dec. 5, 2024 — The Internal Revenue Service Criminal Investigation (IRS-CI) released its Fiscal Year 2024 (FY24) Annual Report today that details significant cases involving crimes ranging from tax fraud to cybercrime, enhanced domestic and foreign partnerships and investigative statistics from FY24 that took place from Oct. 1, 2023, to Sept. 30, 2024.

IR-2024-306, Dec. 5, 2024 — Because identity thieves target the financial data of businesses and the self-employed using new schemes, the Internal Revenue Service and the Security Summit partners today urged companies and individual taxpayers to review and update their security measures and practices to guard against the latest scams.

IR-2024-305, Dec. 4, 2024 — The Internal Revenue Service is accepting applications for the Electronic Tax Administration Advisory Committee (ETAAC) through Jan. 31, 2025.

IR-2024-304, Dec. 4, 2024 — The Internal Revenue Service today warned taxpayers to avoid promoters of fraudulent tax schemes involving donations of ownership interests in closely held businesses, sometimes marketed as “Charitable LLCs.”

IR-2024-303, Dec. 4, 2024 — The Internal Revenue Service and the Security Summit partners today encouraged taxpayers to add an extra layer of protection between their tax returns and identity thieves by joining the Identity protection personal identification number (IP PIN) program at the start of the 2025 tax season.

IR-2024-302, Dec. 3, 2024 — The Internal Revenue Service and the Security Summit partners issued a consumer alert today about the growing threat of bad tax advice on social media that continues to dupe people into filing inaccurate tax returns.

IR-2024-301, Dec. 2, 2024 — The Internal Revenue Service announced today the award of $53 million in Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grants to organizations that provide free federal tax return preparation.

IR-2024-300, Dec. 2, 2024 — On Cyber Monday, the Internal Revenue Service and its Security Summit partners warned taxpayers to approach their holiday shopping with extra caution because scammers are also shopping – for their next victim’s personal information.

PCAOB

Dec. 9, 2024

Dec. 5, 2024

Dec. 3, 2024
 
Dec. 3, 2024
 

Dec. 3, 2024

SEC

2024-190

Washington D.C., Dec. 3, 2024 — The Securities and Exchange Commission’s Investor Advisory Committee will hold a virtual public meeting on Dec. 10, 2024, at 10 a.m. ET. The meeting will be webcast on the SEC website.

2024-189

Washington D.C., Dec. 3, 2024 — The Securities and Exchange Commission today filed settled charges against Houston-based biotherapeutics company Kiromic BioPharma, Inc., its former CEO, Maurizio Chiriva-Internati, and its former chief financial officer, Tony Tontat, for failing to disclose material information about Kiromic’s two cancer fighting drug candidates before, during, and after a July 2021 follow-on public offering that raised $40 million.

TIGTA

December 2, 2024