AICPA
CBO
Blog Post
January 17, 2025
CBO’s Director, Phillip Swagel, discusses the current budget and economic outlook.
Report
January 17, 2025
In CBO’s projections, the federal budget deficit is $1.9 trillion this year, and federal debt rises to 118 percent of GDP in 2035. Economic growth slows and inflation declines over the next two years; both remain moderate after 2026.
Blog Post
January 16, 2025
CBO Director Phillip Swagel describes the agency's primary responsibilities, explains how CBO can help Member offices, emphasizes the agency’s commitment to transparency, and lists what’s forthcoming from CBO.
Report
January 15, 2025
CBO reports annually on programs whose authorizations of appropriations have already expired or will expire. This data file covers legislation enacted through September 30, 2024. A full report will be issued later this year.
Cost Estimate
January 15, 2025
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.
Report
January 14, 2025
In this report, the latest in a quarterly series, CBO highlights its recent publications and summarizes its work in progress.
Report
January 13, 2025
In CBO’s projections, the U.S. population increases from 350 million people in 2025 to 372 million in 2055, and the average age rises. Beginning in 2033, annual deaths exceed annual births, and net immigration accounts for the growth.
GAO
Published: Jan 16, 2025 . Publicly Released: Jan 16, 2025 .
The Financial Report of the U.S. Government provides a comprehensive view of government finances, including revenues, costs, assets, liabilities, and long-term sustainability. We audit the financial statements in that report each year, but we haven't yet been able to determine if they are fairly presented. This year, it was primarily due to: Serious financial management problems at the Department of Defense Problems in accounting for...
Published: Jan 16, 2025 . Publicly Released: Jan 16, 2025 .
Building and maintaining a cybersecurity workforce is vital to protecting the IT systems that support government operations. But a shortage of skilled workers has made that challenging. We looked at how five departments have implemented key cybersecurity workforce practices. Homeland Security has fully implemented nearly all the practices, but the others implemented less than half. Some departments described actions they've taken to address challenges like...
GAO-25-106503
Published: Jan 14, 2025 . Publicly Released: Jan 14, 2025 .
Over half the country's infant formula is bought through the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC). States must contract with the formula manufacturer that offers the lowest price after a rebate to be their sole supplier for WIC. Two formula manufacturers hold most of the contracts. In 2022, the U.S. had a formula shortage because one of them halted production after...
GAO-25-107213
Published: Dec 12, 2024 . Publicly Released: Jan 13, 2025 .
Musculoskeletal injuries cost employers at least $17.7 billion in 2021. Workers in manufacturing and warehousing had these injuries at higher rates. This technology assessment looks at wearable technologies, such as exoskeletons, that aim to reduce musculoskeletal injuries in industrial workplaces. We interviewed people involved with wearable technologies including manufacturers, companies and workers who use them, and more. We found that the technologies may help workers...
GAO-25-107055
Published: Dec 12, 2024 . Publicly Released: Jan 13, 2025 .
Workers who lost jobs during the COVID-19 pandemic were eligible for a 100% subsidy to continue health care coverage for up to 6 months via former employers. Employers offering coverage could receive tax credits to offset costs. The Department of Labor and the IRS expedited their pre-pandemic processes to make this happen. Under tight deadlines, the agencies created guidance—like Q&A notices and updated forms—for employers...
GAO-25-107235
Published: Dec 12, 2024 . Publicly Released: Jan 13, 2025 .
The Temporary Assistance for Needy Families program gives states substantial flexibility over how they will meet program goals to help families. For example, TANF can provide cash to eligible families as well as "non-assistance" services such as job training. We reviewed state spending trends, Health and Human Services' oversight of the program, and more. Spending on non-assistance services increased from FY 2015-22 Unspent TANF funds...
IASB
17 Jan 2025
17 Jan 2025
16 Jan 2025
IR-2025-17, Jan. 17, 2025 — The Internal Revenue Service today updated the frequently asked questions in Fact Sheet 2025-01.
IR-2025-16, Jan. 15, 2025 — The IRS today issued guidance on the income and employment tax treatment of contributions and benefits paid in certain situations under a state paid family and medical leave program, as well as the related reporting requirements. Rev. Rul. 2025-4 provides guidance to the District of Columbia and states that have mandatory paid family and medical leave programs and for employees working in and employers operating in those states.
IR-2025-15, Jan. 15, 2025 — As tax filing season nears, the Internal Revenue Service reminds businesses to submit wage statements and certain information returns to the federal government by Jan. 31.
IR-2025-14, Jan. 15, 2025 — The Internal Revenue Service today announced three pilot programs that will test changes to existing Alternative Dispute Resolution (ADR) programs.
IR-2025-13, Jan. 14, 2025 — The Internal Revenue Service today announced the appointment of 18 new members to the Internal Revenue Service Advisory Council.
IR-2025-12, Jan. 14, 2025 — The IRS and partners in the Coalition Against Scam and Scheme Threats (CASST) today released changes for the 2025 filing season designed to help protect taxpayers from becoming victims of a scam or scheme and preventing tax professionals from having their credentials compromised.
IR-2025-11, Jan. 13, 2025 — The Department of the Treasury and the Internal Revenue Service today issued proposed regulations for corporate separations and reorganizations, including reporting requirements for multi-year corporate separations.
NYC
January 14, 2025
PCAOB
SEC
2025-28
Washington D.C., Jan. 17, 2025 — The Securities and Exchange Commission today announced that Sanjay Wadhwa, the Acting Director of the Division of Enforcement, will depart the agency, effective January 31, 2025, after more than 21 years of service with the Commission.
2025-27
Washington D.C., Jan. 17, 2025 — The Securities and Exchange Commission today announced charges against Joey Miller, Jeff Larson, and Randy Larson, formerly dually registered personnel with Arete Wealth Management LLC, a broker-dealer, and Arete Wealth Advisors LLC, an affiliated investment adviser, for fraud, registration violations, and aiding and abetting Arete Wealth Management’s recordkeeping violations.
Washington D.C., Jan. 17, 2025 — The Securities and Exchange Commission today announced that, based on its preliminary results, it filed 200 total enforcement actions in the first quarter of fiscal year 2025, which ran from October through December 2024, including 118 standalone enforcement actions. The Division filed a total of 75 enforcement actions in October 2024 alone. The foregoing numbers represent the most actions filed in their respective periods since at least 2000.
2025-25
Washington D.C., Jan. 17, 2025 — The Securities and Exchange Commission today announced the departure of Scott Schneider, a counselor to Chair Gary Gensler and Director of the Office of Public Affairs (OPA), effective next month. Mr. Schneider has served in the role since April 19, 2021.
2025-24
Washington D.C., Jan. 17, 2025 — The Securities and Exchange Commission today announced that Corey Klemmer will step down from her role as Policy Director, a role she has held since May 2024. She joined the SEC as Corporation Finance Counsel to Chair Gary Gensler in July 2021.
2025-23
Washington D.C., Jan. 17, 2025 — The Securities and Exchange Commission today announced the departure of Amanda Fischer, who has served as Chief of Staff since Jan. 1, 2023. She joined the agency as a Senior Counselor to Chair Gary Gensler in June 2021.
2025-22
Washington D.C., Jan. 17, 2025 — The Securities and Exchange Commission today announced that Digital Currency Group Inc. (DCG), and Soichoro “Michael” Moro, the former CEO of DCG’s now-defunct subsidiary, Genesis Global Capital LLC, will pay a combined $38.5 million in civil penalties to settle charges for misleading investors about Genesis’s financial condition.
2025-21
Washington D.C., Jan. 17, 2025 — The Securities and Exchange Commission today announced that The Vanguard Group, Inc. will pay $106.41 million to settle charges for misleading statements related to capital gains distributions and tax consequences for retail investors who held Vanguard Investor Target Retirement Funds (Investor TRFs) in taxable accounts. The settlement amount will be distributed to harmed investors.
2025-20
Washington D.C., Jan. 17, 2025 — The Securities and Exchange Commission today charged former Pennsylvania-based investment adviser Scott J. Mason, and his companies Rubicon Wealth Management LLC and Orchard Park Real Estate Holdings LLC, with misappropriating more than $20 million from at least 13 Rubicon advisory clients.
2025-19
Washington D.C., Jan. 17, 2025 —The Securities and Exchange Commission today announced that Paul John McCabe Jr. and his unregistered firm PMAC Consulting LLC have agreed to pay $3 million to resolve SEC charges for illegally brokering transactions involving the stock of private companies that were expected to undertake an initial public offering (IPO).
2025-18
Washington D.C., Jan. 17, 2025 — The Securities and Exchange Commission today announced settled charges against GrubMarket Inc., a private, California-based e-commerce food distributor, for providing investors with financial information that the company should have known was unreliable and that overstated its historical revenues by approximately $550 million.
2025-17
Washington D.C., Jan. 17, 2025 — The Securities and Exchange Commission today announced charges against broker-dealer and investment adviser LPL Financial LLC for multiple failures related to its anti-money laundering (AML) program. To resolve the SEC’s charges, LPL agreed to pay a civil penalty of $18 million and to implement improvements to its AML policies and procedures.
2025-16
Washington D.C., Jan. 17, 2025 — The Securities and Exchange Commission today announced settled charges against registered investment advisers Wells Fargo Clearing Services LLC and Wells Fargo Advisors Financial Network LLC (collectively Wells Fargo Advisors) and against Merrill Lynch, Pierce, Fenner & Smith Incorporated (Merrill Lynch) for failing to adopt and implement written policies and procedures reasonably designed to prevent violations of the Advisers Act and the rules thereunder relating to the firms’ cash sweep programs. The firms agreed to settle the SEC’s charges and pay $60 million in total civil penalties.
2025-15
Washington D.C., Jan. 16, 2025 — The Securities and Exchange Commission today announced settled charges against New York-based investment advisers Two Sigma Investments LP and Two Sigma Advisers LP (collectively, Two Sigma) for breaching their fiduciary duties by failing to reasonably address known vulnerabilities in their investment models and for related compliance and supervisory failures, as well as for separately violating the Commission’s whistleblower protection rule.
2025-14
Washington D.C., Jan. 16, 2025 — The Securities and Exchange Commission today announced that YJ Fischer, the Director of the Office of International Affairs (OIA) since August 2021, will leave her role on Jan. 20, 2025.
2025-13
Washington D.C., Jan. 16, 2025 — The Securities and Exchange Commission today announced that Megan Barbero, who has served as General Counsel since February 2023, will leave the agency on Jan. 20, 2025. Ms. Barbero joined the SEC in July 2021 as Principal Deputy General Counsel.
2025-12
Washington D.C., Jan. 15, 2025 — The Securities and Exchange Commission today filed fraud charges against John Lowe, Randy Grewal, Richard Ringel, and David Cooper arising from their longstanding fraudulent scheme to trade in advance of the public announcement of the timing or price, or both, of numerous follow-on offerings of NASDAQ-listed issuers.
2025-11
Washington D.C., Jan. 15, 2025 — The Securities and Exchange Commission today announced that Jessica A. Wachter, the Chief Economist and Director of the Division of Economic and Risk Analysis (DERA), will depart the agency on January 17.
2025-10
Washington D.C., Jan. 15, 2025 — The Securities and Exchange Commission is closely monitoring the impact of the California wildfires on investors and capital markets.
2025-9
Washington D.C., Jan. 14, 2025 — The Securities and Exchange Commission today announced that Chief Accountant Paul Munter plans to retire from federal service effective Jan. 24, 2025. Mr. Munter joined the agency in 2019, was named Acting Chief Accountant in 2021, and was appointed Chief Accountant in January 2023.
2025-8
Washington D.C., Jan. 14, 2025 — The Securities and Exchange Commission today charged Connecticut-based investment adviser Navy Capital Green Management, LLC with making misrepresentations related to its anti-money laundering (AML) procedures and for compliance failures. Navy Capital agreed to settle the SEC’s charges and pay a $150,000 civil penalty.
2025-7
Washington D.C., Jan. 14, 2025 — The Securities and Exchange Commission today announced settled charges against investment adviser representatives Tamir Shabat, Danny Z. Spiegel, and Joseph J. Orlando, Jr. for acting as unregistered brokers in selling membership interests in LLCs that purported to invest in shares of pre-IPO companies.
2025-6
Washington D.C., Jan. 13, 2025 — The Securities and Exchange Commission today announced charges against nine investment advisers and three broker-dealers for failures by the firms and their personnel to maintain and preserve electronic communications, in violation of recordkeeping provisions of the federal securities laws.
2025-5
Washington D.C., Jan. 13, 2025 — The Securities and Exchange Commission today announced that broker-dealers Robinhood Securities LLC and Robinhood Financial LLC (collectively, Robinhood) have agreed to pay $45 million in combined civil penalties to settle a range of SEC charges arising from their brokerage operations.
2025-4
Washington D.C., Jan. 13, 2025 — The Securities and Exchange Commission today charged Alfred V. Tobia, Jr., the former president and chief investment officer (CIO) of one public company and a member of the board of another, and his sister-in-law, Elizabeth Lee, with insider trading that resulted in more than $428,000 in illegal profits. The defendants have agreed to pay more than $1.36 million to settle the charges.
TIGTA
January 15, 2025