CBO
Cost Estimate
H.R. 267, 2020 WHIP+ Reauthorization Act
December 22, 2022
As reported by the House Committee on Agriculture on September 20, 2021
Cost Estimate
S. 601, Prohibiting Punishment of Acquitted Conduct Act of 2021
December 22, 2022
As reported by the Senate Committee on the Judiciary on July 12, 2021
Cost Estimate
CBO Estimate for Divisions A through N of H.R. 2617 (as modified by S.A. 6552), the Consolidated Appropriations Act, 2023
December 21, 2022
Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of December 19, 2022
December 21, 2022
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.
FASB
FASB Names New Members to Its Not-for-Profit Advisory Committe
January 3, 2023
Financial Accounting Standards Advisory Council Meeting Recap—December 6, 2022
December 23, 2022
Private Company Council Meeting Recap—December 16, 2022
December 23, 2022
FASB Defers Sunset Date of Reference Rate Reform Guidance
December 21, 2022
Investor Advisory Committee Meeting Recap—November 17, 2022
December 19, 2022
GAO
Transforming Aviation:
Congress Should Clarify Certain Tax Exemptions for Advanced Air Mobility
GAO-23-105188
Published: Publicly Released: .
"Advanced Air Mobility" services could soon carry people or cargo on revolutionary aircraft that can take off and land vertically and leave a smaller carbon footprint. Taxes on airspace users support FAA operations and help finance airport infrastructure. Some users qualify for tax exemptions, such as for medical transport services. But current tax laws don't define some of these new aircraft. For example, certain tax...
Freight Rail:
Information on Precision-Scheduled Railroading
GAO-23-105420
Published: Dec 13, 2022
Publicly Released: Dec 23, 2022
Of the 7 largest U.S. freight railroads, 6 have reported implementing "precision-scheduled railroading" (PSR), a strategy intended to increase efficiency and reduce costs. While there is no one definition of PSR, stakeholders told us this strategy is associated with fewer staff, longer trains, and more. For example, in 2022, all 7 of these railroads told us they ran longer trains with the goal of increasing...
Patent Trial and Appeal Board:
Increased Transparency Needed in Oversight of Judicial Decision-Making
GAO-23-105336
Published: Dec 22, 2022
Publicly Released: Dec 22, 2022
The U.S. Patent and Trademark Office's Patent Trial and Appeal Board was formed in 2012 as an alternative to federal courts for patent disputes. There is the potential for political-appointee office directors to influence judicial decisions. Our review of oversight at the board and the independence of its judges found, for example, that: 75% of board judges who answered our survey said the oversight practiced...
Supplemental Material for GAO-23-105459:
SEC Personnel Survey Results
GAO-23-106234
Published: Dec 22, 2022
Publicly Released: Dec 22, 2022
The Securities and Exchange Commission oversees financial markets. To do so, it needs to attract and retain a high-quality workforce. We routinely report on SEC's personnel management practices. For our latest report, we surveyed SEC employees on their views of SEC's personnel management practices related to recruitment, training, staff development, leadership, organizational culture, and more. We surveyed mission-critical employees—931 nonexecutives and 78 senior officers. More...
Securities and Exchange Commission:
Employee Views of Personnel Management Improved, but Action Needed on Measuring Diversity and Inclusion Goals
GAO-23-105459
Published: Dec 22, 2022
Publicly Released: Dec 22, 2022
The Securities and Exchange Commission oversees financial markets. To do so, it needs to attract and retain a high-quality workforce. We surveyed SEC employees on their views of SEC's personnel management practices. Since 2013, when we first reported on this topic, employees' views on morale and other issues have improved. Employees also have favorable views of SEC's efforts to ensure a diverse and inclusive workforce...
Military Cyber Personnel:
Opportunities Exist to Improve Service Obligation Guidance and Data Tracking
GAO-23-105423
Published: Dec 21, 2022
Publicly Released: Dec 21, 2022
Military personnel who complete advanced cyber training—which may take a year or more and costs DOD hundreds of thousands of dollars—may not remain in the military for a significant time after training. We found that 2 of the 4 military services are not positioned to ensure adequate return on their investment in advanced cyber training. While the Navy and Air Force require 3 years of...
Tactical Aircraft Investments:
DOD Needs Additional Portfolio Analysis to Inform Future Budget Decisions
GAO-23-106375
Published: Dec 20, 2022
Publicly Released: Dec 20, 2022
DOD is upgrading its fleet of fighter and attack planes, known as tactical aircraft. Most of these planes—purchased in the 1970s and 80s—have outlived their planned service lives. Over the next 5 years, DOD is proposing to spend nearly $100 billion on major investments and changes to its current mix of tactical aircraft. This includes modernizing existing aircraft buying and developing new aircraft retiring a...
Information Management:
Agencies Need to Streamline Electronic Services
GAO-23-105562
Published: Dec 20, 2022
Publicly Released: Dec 20, 2022
Federal agencies must obtain written consent from individuals before disclosing their personal information. The Office of Management and Budget issued guidance that outlined agencies' responsibilities for accepting digital access and consent forms. Agencies were to implement the requirements in this guidance by November 2021. We found that, as of August 2022, only 1 of the 17 agencies that we reviewed had done so (the Securities...
Emergency Rental Assistance:
Treasury's Oversight is Limited by Incomplete Data and Risk Assessment
GAO-23-105410
Published: Dec 20, 2022
Publicly Released: Dec 20, 2022
Through the $46 billion Emergency Rental Assistance program, the Department of the Treasury helps those who can't pay rent due to the COVID-19 pandemic. Third party studies and eviction data suggest that the program has helped limit evictions. But Treasury doesn't have complete data on payments or recipients. For example, Treasury is missing data on 26% of payments made to households in 2021. In addition...
Drug Control:
Office of National Drug Control Policy Met Some Strategy Requirements but Needs a Performance Evaluation Plan
GAO-23-105508
Published: Dec 19, 2022
Publicly Released: Dec 19, 2022
CDC data estimates that a record 107,000 Americans died from drug overdoses in 2021. National efforts to prevent, respond to, and recover from drug misuse are on our High Risk List. The Office of National Drug Control Policy's National Drug Control Strategy aims to reduce illegal drug use and promote prevention, treatment, and recovery. The 2022 Strategy fully met some legal requirements, including setting long-range...
Cancer Clinical Trials:
Federal Actions and Selected Non-Federal Practices to Facilitate Diversity of Patients
GAO-23-105245
Published: Dec 19, 2022
Publicly Released: Dec 19, 2022
Despite more than 3 decades of government policies to improve diversity in clinical cancer trials, certain groups remain underrepresented, including some racial and ethnic groups, women, and low-income individuals. Diversity in clinical trials aims to ensure safe and effective treatments for any patient likely to use them. To increase diversity in federally-funded clinical cancer trials, agencies broadened eligibility requirements, reimbursed patient out-of-pocket costs to reduce...
Federal Reserve Lending Programs:
Risks Remain Low in Related Credit Markets, and Main Street Loans Have Generally Performed Well
GAO-23-105629
Published: Dec 19, 2022
Publicly Released: Dec 19, 2022
The Federal Reserve's emergency lending programs helped support access to credit for businesses, employers, state and local governments, and others during the COVID-19 pandemic. The last of these programs stopped purchasing assets or extending credit by the end of July 2021. Since these programs have stopped extending credit, we found that: Corporations and small businesses generally have easy access to credit Municipalities' borrowing costs have...
IFRS
IFRS Foundation and MoF China sign an MoU to establish an ISSB office in Beijing
Announcement
29 Dec 2022
“A global baseline needs a global effort”—Insights from the Korean Stakeholders Dinner with the IFRS Foundation
Outreach
22 Dec 2022
December 2022 IASB podcast now available
Podcast
21 Dec 2022
IASB publishes its review of classification and measurement requirements relating to financial instruments
Project Summary
21 Dec 2022
Inaugural membership of Sustainability Standards Advisory Forum announced
Announcement
21 Dec 2022
IFRS Foundation appoints new Trustees with broad range of accounting and sustainability reporting expertise
Appointment
21 Dec 2022
December 2022 IFRS for SMEs Accounting Standard Update now available
Update 20 Dec 2022
IRS
Treasury, IRS provide updated guidance on accounting methods for specified research or experimental expenditures
IR-2022-235, December 29, 2022 — The Treasury Department and Internal Revenue Service today issued Revenue Procedure 2023-11 providing updated guidelines for accounting method changes for specified research or experimental expenditures.
IRS issues standard mileage rates for 2023; business use increases 3 cents per mile
IR-2022-234, December 29, 2022 — The Internal Revenue Service today issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Treasury, IRS issue guidance on the incremental cost for the Commercial Clean Vehicle Credit
IR-2022-233, December 29, 2022 — The Treasury Department and Internal Revenue Service today issued Notice 2023-9 regarding the commercial clean vehicle credit for commercial vehicles purchased and placed in service, during the taxable year.
Treasury, IRS issue guidance on their intent to publish regulations regarding clean vehicles
IR-2022-232, December 29, 2022 — The Treasury Department and Internal Revenue Service today issued Notice 2023-01 of its intent to publish regulations related to the new clean vehicle credit.
IRS releases frequently asked questions about clean vehicles credits for new, previously owned and commercial clean vehicles
IR-2022-231, December 29, 2022 — The Internal Revenue Service today released frequently asked questions (FAQs) about clean vehicle credits for new, previously owned and commercial clean vehicles in Fact Sheet (FS-2022-42).
IRS updates frequently asked questions about Form 1099-K
IR-2022-230, December 28, 2022 — The Internal Revenue Service today updated frequently asked questions (FAQs) for Form 1099-K, Payment Card and Third Party Network Transactions, in Fact Sheet FS-2022-41.
Treasury, IRS issue interim guidance on new corporate alternative minimum tax
IR-2022-229, December 27, 2022 — The Treasury Department and the Internal Revenue Service today issued Notice 2023-07, which provides interim guidance regarding the application of the new corporate alternative minimum tax (CAMT) until the issuance of proposed regulations.
Treasury, IRS issue guidance on corporate stock repurchase excise tax in advance of forthcoming regulations
IR-2022-228, December 27, 2022 — The Treasury Department and the Internal Revenue Service today issued Notice 2023-2, which provides interim guidance regarding the application of the corporate stock repurchase excise tax until the issuance of proposed regulations.
Treasury, IRS provide transitional guidance for broker reporting on digital assets
IR-2022-227, December 23, 2022 — The Treasury Department and Internal Revenue Service announced today that brokers are not required to report additional information with respect to dispositions of digital assets until final regulations are issued under sections 6045 and 6045A.
IRS announces delay for implementation of $600 reporting threshold for third-party payment platforms’ Forms 1099-K
IR-2022-226, December 23, 2022 — The Internal Revenue Service today announced a delay in reporting thresholds for third-party settlement organizations set to take effect for the upcoming tax filing season.
IRS releases frequently asked questions about energy efficient home improvements and residential clean energy property credits
IR-2022-225, December 22, 2022 — The Internal Revenue Service today released frequently asked questions (FAQs) about energy efficient home improvements and residential clean energy property credits.
Save for retirement now, get a tax credit later: Saver’s Credit higher limits can help low- and moderate-income workers save more in 2023
IR-2022-224, December 21, 2022 — The IRS reminds low- and moderate-income workers that they can save for retirement now and possibly earn a special tax credit in 2022 and years ahead.
Treasury, IRS issue guidance on new Sustainable Aviation Fuel Credit
IR-2022-223, December 19, 2022 — The Treasury Department and Internal Revenue Service today issued a notice regarding the Sustainable Aviation Fuel (SAF) credit. This is a new credit created by the Inflation Reduction Act of 2022. It applies to a qualified fuel mixture containing sustainable aviation fuel for certain sales or uses in calendar years 2023 and 2024.
NYS
Governor Hochul Announces Additional Actions to Provide Financial Relief to People in Western New York and North County Regions
2022-12-27
Governor Hochul Signs Legislation Expanding Access to PrEP and PEP Medication That Help Prevent HIV
2022-12-22
PCAOB
PCAOB Chair Applauds Congressional Action to Shorten HFCAA Timeline
Dec. 23, 2022
PCAOB Sanctions Six Firms for Failing to Make Required Disclosures
Dec. 22, 2022
PCAOB Sanctions EY Canada Engagement Partner for Flawed Auditing of Management Estimate
Dec. 22, 2022
PCAOB Sanctions Firm and Partner for Numerous Violations of Standards Related to Documentation and Quality Control
Dec. 21, 2022
PCAOB Proposes New Standard for the Auditor’s Use of Confirmation
Dec. 20, 2022
PCAOB Sanctions Three Individuals for Violating PCAOB Standards on Relationships Between a Company and Its Related Parties
Dec. 20, 2022
SEC
Antonia Apps Named Director of New York Regional Office
2022-237
Washington D.C., Dec. 27, 2022 — The Securities and Exchange Commission today announced that former federal prosecutor Antonia M. Apps will become Regional Director of the New York Regional Office next month. Thomas Smith and Maurya Keating, who have served as Acting Co-Directors, remain as Associate Regional Directors of the Enforcement and Examinations programs, respectively.
SEC Approves the 2023 Public Company Accounting Oversight Board Budget and Accounting Support Fee
2022-236
Washington D.C., Dec. 23, 2022 — The Securities and Exchange Commission today voted to approve the 2023 budget of the Public Company Accounting Oversight Board (PCAOB) and the related annual accounting support fee.
SEC Announces Departure of Dan Berkovitz; Megan Barbero Named General Counsel
2022-235
Washington D.C., Dec. 22, 2022 — The Securities and Exchange Commission today announced that General Counsel Dan Berkovitz will depart the agency, effective Jan. 31, 2023. Megan Barbero, currently SEC Principal Deputy General Counsel, will be appointed General Counsel, effective upon Mr. Berkovitz’s departure.
SEC Charges Caroline Ellison and Gary Wang with Defrauding Investors in Crypto Asset Trading Platform FTX
2022-234
Washington D.C., Dec. 21, 2022 — The Securities and Exchange Commission today charged Caroline Ellison, the former CEO of Alameda Research, and Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. (FTX), for their roles in a multiyear scheme to defraud equity investors in FTX, the crypto trading platform co-founded by Samuel Bankman-Fried and Wang. Investigations into other securities law violations and into other entities and persons relating to the alleged misconduct are ongoing.
Sarah ten Siethoff Named Deputy Director of the Division of Investment Management
2022-233
Washington D.C., Dec. 21, 2022 — The Securities and Exchange Commission announced today that Sarah ten Siethoff has been named Deputy Director of the Division of Investment Management. In addition to serving as Deputy Director, Ms. ten Siethoff will continue serving as the Associate Director of the Division’s Rulemaking Office, a position she has held since 2018.
SEC Charges Former CEO of Biotech Company CytoDyn with Fraud, Insider Trading
2022-232
Washington D.C., Dec. 20, 2022 — The Securities and Exchange Commission today charged Nader Pourhassan, the former CEO of CytoDyn Inc., with fraud and insider trading in connection with providing misleading information to shareholders about the progress of a clinical research treatment for COVID-19 and HIV.
SEC Awards More Than $37 Million to Whistleblower
2022-231
Washington D.C., Dec. 19, 2022 — The Securities and Exchange Commission today announced an award of more than $37 million to a whistleblower whose information led to a successful SEC enforcement action and a related action.
TIGTA
December 20, 2022
Backlogs of Tax Returns and Other Account Work Will Continue Into the 2023 Filing Season
Report Number 2023-46-007
December 19, 2022
Procedural Changes and Training Could Improve the Processing of Proposed Denied Applications for Tax Exemption
Report Number 2023-10-004