Regulatory Roundup - April 2-8

By:
Chris Gaetano
Published Date:
Apr 8, 2019

AICPA 

Press Release
AICPA Asks IRS to Update Instructions for Form Taxpayers Use to Report Limitation on Business Losses
The AICPA recommended a change to the definition of a “trade or business” on instructions for 2018 Form 461.
April 5, 2019

Press Release
Survey: US CFOs Cite Talent Needs, the Economy and Social Media Among Top Risks
A new report shares CFOS’ perceptive on the corporate risk landscape and shares tactical steps organizations can take to strengthen its risk management processes.
April 3, 2019

Press Release
6 Personal Finance Trends that Should Worry All Americans
AICPA Experts provide tips and insight to help Americans address 6 worrisome personal finance trends
April 2, 2019

CBO

Report
Monthly Budget Review for March 2019
April 5, 2019
The federal budget deficit was $693 billion for the first half of fiscal year 2019, CBO estimates, $94 billion more than the deficit recorded during the same period last year.

Cost Estimate
H.R. 1331, Local Water Protection Act
April 5, 2019
As ordered reported by the House Committee on Transportation and Infrastructure on March 27, 2019

Cost Estimate
H.R. 1076, Fair Chance Act
April 5, 2019
As ordered reported by the House Committee on Oversight and Reform on March 26, 2019

Cost Estimate
H.R. 1994, Setting Every Community Up for Retirement Enhancement Act of 2019
April 5, 2019
As ordered reported by the House Committee on Ways and Means on April 2, 2019

Cost Estimate
H.R. 1847, Inspector General Protection Act
April 5, 2019
As ordered reported by the House Committee on Oversight and Reform on March 26, 2019

Cost Estimate
H.R. 1957, Taxpayer First Act of 2019
April 5, 2019
As ordered reported by the House Committee on Ways and Means on April 2, 2019

Cost Estimate
H.R. 1759, BRIDGE for Workers Act
April 5, 2019
As ordered reported by the House Committee on Ways and Means on April 2, 2019

Cost Estimate
H.R. 2021, Investing for the People Act of 2019
April 4, 2019
As ordered reported by the House Committee on the Budget on April 3, 2019

Presentation
The 2019 Budget and Economic Outlook
April 2, 2019
Presentation by Keith Hall, CBO Director, to the American Business Conference.

Cost Estimate

As ordered reported by the House Committee on the Judiciary on March 13, 2019

FASB

Financial Accounting Standards Advisory Council  [04/04/19]
March 29, 2019 Meeting Recap

GAO

Aviation Security:
TSA Improved Covert Testing but Needs to Conduct More Risk-Informed Tests and Address Vulnerabilities
GAO-19-374: Published: Apr 4, 2019. Publicly Released: Apr 4, 2019.

Federal Student Aid:
Actions Needed to Evaluate Pell Grant Pilot for Incarcerated Students
GAO-19-130: Published: Mar 5, 2019. Publicly Released: Apr 4, 2019.

Scientific Integrity Policies:
Additional Actions Could Strengthen Integrity of Federal Research
GAO-19-265: Published: Apr 4, 2018. Publicly Released: Apr 4, 2019.

Combating Nuclear Terrorism:
NRC Needs to Take Additional Actions to Ensure the Security of High-Risk Radioactive Material
GAO-19-468: Published: Apr 4, 2014. Publicly Released: Apr 4, 2019.

Higher Education:
Opportunities to Strengthen Federal Accountability
GAO-19-484T: Published: Apr 3, 2019. Publicly Released: Apr 3, 2019.

High Risk:
Important Progress Made, but More Work Needed to Strengthen DHS Management
GAO-19-475T: Published: Apr 3, 2019. Publicly Released: Apr 3, 2019.

Space Acquisitions:
DOD Faces Significant Challenges as it Seeks to Address Threats and Accelerate Space Programs
GAO-19-482T: Published: Apr 3, 2019. Publicly Released: Apr 3, 2019.

Border Security:
U.S. Government Efforts to Strengthen Nonimmigrant Visa Security and Address High-Risk Air Travelers
GAO-19-477T: Published: Apr 2, 2019. Publicly Released: Apr 2, 2019.

Veterans Affairs:
Addressing IT Management Challenges Is Essential to Effectively Supporting the Department's Mission
GAO-19-476T: Published: Apr 2, 2019. Publicly Released: Apr 2, 2019.

Behavioral Health:
Research on Health Care Costs of Untreated Conditions is Limited
GAO-19-274: Published: Feb. 28, 2019 Publicly Released: Apr. 1, 2019

Foreign Asset Reporting:
Actions Needed to Enhance Compliance Efforts, Eliminate Overlapping Requirements, and Mitigate Burdens on U.S. Persons Abroad
GAO-19-180: Published: Apr. 1, 2019 Publicly Released: Apr. 1, 2019

Older Workers:
Other Countries' Experiences with Phased Retirement
GAO-19-16: Published: Feb. 28, 2019 Publicly Released: Apr. 1, 2019

IASB

04 April 2019
April 2019 IFRS for SMEs Update published

02 April 2019
Speech: IASB Chair on what sustainability reporting can and cannot achieve

IRS 

Tax deadline approaches: IRS dispels five myths about tax refunds
IR-2019-64, April 5, 2019 ― As the April tax-filing deadline approaches, the Internal Revenue Service understands that taxpayers are anxious to get details about their tax refunds.

IRS reminds those with foreign assets of annual April 15 FBAR deadline
IR-2019-63, April 4, 2019 — The Internal Revenue Service today reminded U.S. citizens and resident aliens, including those with dual citizenship, that if they have a foreign bank or financial account, April 15, 2019, is the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR).

Estimated taxes form and publication can help people pay the right amount in 2019
IR-2019-62, April 3, 2019 – The Internal Revenue Service today reminded self-employed individuals, retirees, investors and others who pay their taxes quarterly that the first estimated tax payment for tax year 2019 is due Monday, April 15, 2019, for most taxpayers.

IRS offers webinar on the importance of filing on time
IR-2019-61, April 2, 2019 — The IRS is offering a free webinar focusing on the importance of filing a return on time, even if the tax due cannot be paid.

Tax Time Guide wrap-up: Tips on payment options, penalty waivers, refunds and more
IR-2019-60, April 2, 2019 — The IRS today urged taxpayers to file an accurate tax return on time, even if they owe but can’t pay in full.

NYS Dept. of Taxation and Finance

Have You Been Procrastinating? Use These Five Filing Tips to Submit an Accurate and On-Time Return
Friday, April 05, 2019

Two Weeks to Go! Free Filing Resources Online and Across the State
Tuesday, April 02, 2019​

PCAOB

PCAOB Announces Additional Webinar on Critical Audit Matters (April 5, 2019)

SEC

New SEC Campaign Educates Investors on Where and How to Get Answers
Washington D.C., April 8, 2019 —The Securities and Exchange Commission today unveiled a public service campaign to empower Main Street investors to take control of their financial future. The public service announcement (PSA) encourages investors to use the free tools and unbiased information available on the SEC’s online resource for investor education−Investor.gov−to get answers to their questions about investing.

SEC Charges Transportation Company Executives With Accounting Fraud
Washington D.C., April 3, 2019 —The Securities and Exchange Commission today charged the former CFO and two former employees of a publicly traded transportation company with fraud for manipulating the company’s financial results in order to meet earnings targets and projections.

Statement on “Framework for ‘Investment Contract’ Analysis of Digital Assets”
Bill Hinman, Director of Division of Corporation Finance
Valerie Szczepanik, Senior Advisor for Digital Assets and Innovation
April 3, 2019
Blockchain and distributed ledger technology can catalyze a wide range of innovation.  We have seen these technologies used to create financial instruments, sometimes in the form of tokens or coins that can provide investment opportunities like those offered through more traditional forms of securities.  Depending on the nature of the digital asset, including what rights it purports to convey and how it is offered and sold, it may fall within the definition of a security under the U.S. federal securities laws.

SEC Charges Former CEO of Silicon Valley Startup With Defrauding Investors
Washington D.C., April 2, 2019 —The Securities and Exchange Commission today charged the founder and former chief executive of a Silicon Valley startup with defrauding investors in Jumio Inc., a private mobile payments company. The former CEO, Daniel Mattes, agreed to pay more than $17 million to settle the charges.

Are You Prepared for Your Financial Future? Use the SEC’s Investor Preparedness Checklist to Find Out: Chairman Jay Clayton Breaks Down Investment Basics in New Video Series
Washington D.C., April 1, 2019 —Are you prepared for your financial future?  That’s the question the Securities and Exchange Commission's Office of Investor Education and Advocacy (OIEA) is asking investors. To help investors get started with creating their own saving and investing plan, OIEA developed an investor preparedness checklist to empower the

TIGTA

April 2, 2019
Interim Results of the 2019 Filing Season [PDF]
Highlights

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