AICPA
Most U.S. Business Executives Say Economy is Already in Recession or Will Be Before 2023, AICPA & CIMA Survey Finds
Dec. 1. 2022
CBO
Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of December 5, 2022
December 2, 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.
Blog Post
CBO to Release Budget Options in Two Volumes on December 7
December 1, 2022
On Wednesday, December 7, CBO will release Options for Reducing the Deficit: 2023 to 2032, the latest edition of a report that the agency publishes periodically.
Report
CBO’s Current View of the Economy in 2023 and 2024 and the Budgetary Implications
November 30, 2022
CBO describes its current view of the economy over the next two years, compares that view with projections of other forecasters and with those that CBO made previously, and explains the implications for the federal budget.
Report
How CBO Analyzes Public-Private Risk Sharing in Insurance Markets
November 30, 2022
CBO outlines how it analyzes public-private risk sharing in the federal terrorism insurance, crop insurance, and flood insurance programs. The agency also describes how that risk sharing affects the federal budget.
Report
Questions About CBO’s Current View of the Economy in 2023 and 2024 and the Implications for Households and the Federal Budget
November 30, 2022
CBO responds to questions about its current view of the economy over the next two years, how that compares with CBO's most recent projections and with those of the Federal Reserve, and the implications for households and the federal budget.
Report
Army Corps of Engineers: Budgetary History and Projections
November 29, 2022
CBO examines trends in funding and spending for the Army Corps of Engineers and explains how CBO treats that agency’s activities in its baseline and cost estimates.
Cost Estimate
Estimated Pay-As-You-Go Effects of H.R. 4772, the Mark O’Brien VA Clothing Allowance Improvement Act
November 29, 2022
As Posted to the Website of the Clerk of the House on November 25, 2022
Cost Estimate
Estimated Pay-As-You-Go Effects of H.R. 7158, the Long-Term Care Veterans Choice Act
November 29, 2022
As Posted to the Website of the Clerk of the House on November 25, 2022
Cost Estimate
H.R. 4772, Mark O’Brien VA Clothing Allowance Improvement Act
November 28, 2022
As ordered reported by the House Committee on Veterans’ Affairs on November 16, 2022
Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of November 28, 2022
November 28, 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.
Cost Estimate
S. 3538, EARN IT Act of 2022
November 28, 2022
As ordered reported by the Senate Committee on the Judiciary on February 10, 2022
Report
The Army’s Costs to Eliminate Its Deferred Maintenance Backlog and to Renovate and Modernize Its Buildings
November 28, 2022
CBO estimates that the total cost to eliminate the deferred maintenance backlog for buildings in use on Army bases in the United States, and to renovate and modernize the Army’s buildings, would be $54 billion (measured in 2020 dollars).
FAF
Financial Accounting Foundation Appoints Nine New Members to the Financial Accounting Standards Advisory Council
December 5, 2022
FASB
FASB Seeks Input on Proposed Improvements to Leases Guidance on Related Party Arrangements between Entities under Common Control
November 30, 2022
GAO
Critical Infrastructure:
Actions Needed to Better Secure Internet-Connected Devices
GAO-23-105327
Published:
Publicly Released:
The nation's 16 critical infrastructure sectors rely on internet-connected devices and systems to deliver essential services, such as electricity and health care. These sectors face increasing cybersecurity threats—an issue on our High Risk list. Federal agencies that have leadership roles in 3 sectors we reviewed have taken some steps to manage the cybersecurity risks posed by internet-connected devices and systems. But they've not assessed risks...
Broadband:
USDA Should Set Performance Goals and Improve Fraud Risk Management for Funding Program
GAO-23-105265
Published:
Publicly Released:
Since 2019, the Department of Agriculture's ReConnect program has awarded millions of dollars in grants and loans to broadband providers for expanding service in rural areas. But USDA hasn't set specific goals for what it wants this program to achieve or for how it will measure how well the program is working. In addition, protecting the program from fraud is critical to ensure that federal...
Paid Tax Return Preparers:
IRS Efforts to Oversee Refundable Credits Help Protect Taxpayers but Additional Actions and Authority Are Needed
GAO-23-105217
Published:
Publicly Released:
IRS estimated that $26 billion in refundable tax credits were for the wrong amount or missing documentation in FY 2021. Millions of taxpayers claimed these credits and about half used a paid preparer to complete their returns. IRS doesn't have the authority to establish professional requirements for all paid tax preparers, so it created a program to educate preparers who submit returns with tax credit...
Export-Import Bank:
Loan and Loan Guarantee Program Updates in Response to COVID-19
GAO-23-105560
Published:
Publicly Released:
The Export-Import Bank of the United States created or modified four programs to help businesses that export goods and services address the economic effects of the COVID-19 pandemic. For example, the Bank provided a loan through a new program, and either expanded or waived certain requirements to existing programs so that more borrowers could get help. The Bank documented these relief measures and communicated them...
Veterans Affairs:
Projection, Use, and Oversight of COVID-19 Relief Funding
GAO-23-105730
Published:
Publicly Released:
The VA received approximately $36.7 billion in supplemental funding for COVID-19 relief during 2020 and 2021. We reviewed how the VA used these funds, and found that most of this money went to three areas of VA's operations: Veterans' health care, including paying for veterans to receive care at non-VA facilities due to the increased demand for emergency and urgent care during the pandemic Digital...
Internal Revenue Service:
Information about Funding, Financial Reporting Controls, and GAO Recommendations
GAO-23-106351
Published:
Publicly Released:
The federal tax gap—the difference between taxes owed and taxes paid on time—has been a persistent problem for decades. IRS estimated that the tax gap was about $428 billion annually from 2014-2016. IRS can reduce the tax gap in part by enforcing tax laws to collect unpaid taxes. In 2022, the agency received $79.4 billion over 10 years to improve compliance, among other things. We've...
IASB
Watch a webcast that provides an overview of the IFRS for SMEs Accounting Standard consultation
Webcast
5 Dec 2022
December 2022 International Accounting Standards Board agenda and meeting papers now available
Meeting
2 Dec 2022
Round 8 of IAAER-KPMG research grants open to inform IASB standard-setting process
Call for Papers
2 Dec 2022
December 2022 International Sustainability Standards Board agenda and meeting papers now available
Meeting
2 Dec 2022
November 2022 IASB podcast available now
Meeting
1 Dec 2022
IFRS Taxonomy formula linkbase 2022 now available
IFRS Taxonomy Update
1 Dec 2022
November 2022 monthly news summary now available
News Summary
30 Nov 2022
December 2022 Emerging Economies Group agenda and meeting papers now available
Meeting
29 Nov 2022
25-27 October 2022 Trustees of the IFRS Foundation and Due Process Oversight Committee meeting summary available
Meeting
28 Nov 2022
IRS
IRS updates frequently asked questions about the 2020 unemployment compensation exclusion
IR-2022-212, December 2, 2022 — The Internal Revenue Service today updated frequently asked questions (FAQs) for the 2020 unemployment compensation exclusion.
IRS, Security Summit partners wrap up National Tax Security Awareness Week with steps businesses should take to prevent data loss, fraud
IR-2022-211, December 2, 2022 — To wrap up National Tax Security Awareness Week, the Internal Revenue Service and the Security Summit partners today urged businesses to remain vigilant against cyberattacks aimed at stealing their customer’s personal information and other business data.
National Tax Security Awareness Week, Day 4: Choosing a unique Identity Protection PIN adds extra safety for taxpayers
IR-2022-210, December 1, 2022 — As part of a broader effort to increase security, the Internal Revenue Service and the Security Summit partners today reminded taxpayers they could get extra protection starting in January by joining the agency’s Identity Protection Personal Identification Number (IP PIN) program.
Security Summit offers tools, tips to tax pros during National Tax Security Awareness Week; highlights importance of security plans
IR-2022-209, November 30, 2022 — With tax season quickly approaching, the Internal Revenue Service and the Security Summit partners today urged tax professionals to remain focused on security issues and to review resources available to them, including sample security plans and checklists.
Treasury and IRS announce guidance on wage and apprenticeship requirements for enhanced credits/deductions
IR-2022-208, November 29, 2022 — The Treasury Department and Internal Revenue Service today announced guidance providing taxpayers information on how to satisfy the prevailing wage and apprenticeship requirements for enhanced tax benefits under the Inflation Reduction Act. The guidance will be published in the Federal Register tomorrow.
IRS hosts first centralized National Virtual Settlement Event helping more taxpayers settle Tax Court cases
IR-2022-207, November 29, 2022 — The Internal Revenue Service announced today that the IRS Office of Chief Counsel partnered with the American Bar Association Tax Section to hold its first centralized National Virtual Settlement Event. This four-day event was inspired by the monthlong virtual event held in March 2021 during the height of the COVID-19 pandemic.
Interest rates increase for the first quarter of 2023
IR-2022-206, November 29, 2022 — The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning January 1, 2023.
National Tax Security Awareness Week: Giving Tuesday highlights that scammers may use phony charities to trick taxpayers
IR-2022-205, November 29, 2022 — On Giving Tuesday, the Internal Revenue Service and its Security Summit partners warned taxpayers to be on alert for scammers using fake charities to commit fraud not just during the holiday season but year-round.
NYS
DFS Superintendent Adrienne A. Harris Announces New Proposed Virtual Currency Assessment Regulation
2022-12-01
Superintendent of the Department of Financial Services Adrienne A. Harris Directs Request for Information to Insurers Regarding Health Equity Programs
2022-12-01
PCAOB
Chair Williams: PCAOB Quality Control Proposal Will Better Protect Investors
Nov. 29, 2022
PCAOB Approves 2023 Budget, Strategic Plan to Protect Investors
Nov. 18, 2022
SEC
ABB Settles SEC Charges That it Engaged in Bribery Scheme in South Africa
Washington D.C., Dec. 3, 2022 — The Securities and Exchange Commission today announced charges against global electrification and automation technology company, ABB Ltd, for violations of the Foreign Corrupt Practices Act (FCPA) arising out of a bribery scheme in South Africa. The company has agreed to pay a $75 million civil penalty to settle the SEC’s charges.
SEC Investor Advisory Committee to Discuss Investor Account Statements, Corporate Tax Transparency, and Single-Stock ETFs on Dec 8
Washington D.C., Dec. 1, 2022 — The Securities and Exchange Commission’s Investor Advisory Committee will hold a virtual public meeting on December 8 at 10 a.m. ET. The meeting will be webcast on the SEC website.
Fort Worth Regional Director David L. Peavler to Leave SEC
Washington D.C., Dec. 1, 2022 — The Securities and Exchange Commission today announced that David L. Peavler, the Director of the Fort Worth Regional Office since 2019, is leaving the agency after more than 19 years of service. Eric R. Werner and Marshall Gandy will serve as the office’s Co-Acting Regional Directors when Mr. Peavler departs.
TIGTA
National Research Program Tax Return Selection Process for Tax Years 2017 and 2019
November 29, 2022