Regulatory Roundup - Aug. 1-7

By:
Chris Gaetano
Published Date:
Aug 7, 2018

AICPA 

AICPA Urges Immediate Guidance from IRS and Treasury to Correct Effect of TCJA on 401(k) and 403(b) Hardship Distributions for Casualty Losses 
August 6, 2018

AICPA Governmental Accounting and Auditing Update Conference Examines Key Changes to Updated Financial Audit Manual and How to Mitigate Risk of Cybersecurity Threats 
August 6, 2018

Proposal to Regulate Tax Preparers in “Protecting Taxpayers Act” Has AICPA’s Support 
August 2, 2018

Grant Thornton’s Jim Burton to Lead AICPA’s Assurance Services Executive Committee 
August 1, 2018

CBO 

Report
Answers to Questions for the Record Following a Hearing on CBO’s Appropriation Request for Fiscal Year 2019 Conducted by the Subcommittee on the Legislative Branch, House Committee on Appropriations
August 7, 2018

Blog Post
CBO’s Panel of Health Advisers, 2018
August 6, 2018

Cost Estimate
S. 2852, Pandemic and All-Hazards Preparedness and Advancing Innovation Act of 2018
August 3, 2018

Cost Estimate
H.R. 589, Department of Energy Research and Innovation Act
August 3, 2018

Cost Estimate
H.R. 3764, Little Shell Tribe of Chippewa Indians Restoration Act of 2018
August 3, 2018

Cost Estimate
S. 2946, Anti-Terrorism Clarification Act of 2018
August 3, 2018

Cost Estimate
H.R. 5954, Anti-terrorism Clarification Act of 2018
August 3, 2018

Cost Estimate
H.R. 2278, Responsible Disposal Reauthorization Act of 2017
August 2, 2018

Cost Estimate
H.R. 5082, Practice of Law Technical Clarification Act of 2018
August 2, 2018

Cost Estimate
H.R. 6332, Improving Strategies to Counter Weapons Proliferation Act
August 2, 2018

Cost Estimate
H.R. 6038, a bill to establish a procedure for the conveyance of certain Federal property around Dickinson Reservoir in the State of North Dakota
August 2, 2018

Cost Estimate
H.R. 1697, Israel Anti-Boycott Act
August 2, 2018

Cost Estimate
S. 3217, Strengthening Career and Technical Education for the 21st Century Act
August 1, 2018

Cost Estimate
H.R. 6443, Advancing Cybersecurity Diagnostics and Mitigation Act
August 1, 2018

Cost Estimate
H.R. 6066, a bill to amend title 38, United States Code, to improve the productivity of the management of Department of Veterans Affairs health care, and for other purposes
August 1, 2018

Cost Estimate
H.R. 589, Department of Energy Research and Innovation Act
August 1, 2018

Cost Estimate
S. 1250, Restoring Accountability in the Indian Health Service Act of 2018
August 1, 2018

Cost Estimate
H.R. 6039, a bill to establish a procedure for the conveyance of certain Federal property around Jamestown Reservoir in the State of North Dakota, and for other purposes
August 1, 2018

FAF

Financial Accounting Foundation Board of Trustees
Meeting Notice
August 7, 2018

FASB

Registration Opens for September 14 FASB Webcast
IN FOCUS:  Understanding and Implementing FASB’s New Grants and Contracts Standard  [08/07/18]
News Release
Course Description and Registration

FASB Seeks Public Companies for Segment Reporting Study  [08/06/18]
News Release
Study Registration

Private Company Council  [08/06/18]
June 26, 2018 Meeting Minutes

Representatives of the Financial Accounting Standards Board and the Accounting Standards Board of Japan Hold Biannual Meeting  [08/03/18]
News Release

FASB Issues Targeted Improvements to Leases Standard  [07/30/18]
News Release
ASU 2018-11

GAO

Southwest Border Security:
CBP Is Evaluating Designs and Locations for Border Barriers but Is Proceeding Without Key Information
GAO-18-614:Published: Jul 30, 2018. Publicly Released: Aug 6, 2018.

Aircraft Carrier Dismantlement and Disposal:
Options Warrant Additional Oversight and Raise Regulatory Questions
GAO-18-523:Published: Aug 2, 2018. Publicly Released: Aug 2, 2018.

Federal Chief Information Officers:
Critical Actions Needed to Address Shortcomings and Challenges in Implementing Responsibilities
GAO-18-93:Published: Aug 2, 2018. Publicly Released: Aug 2, 2018.

North American Energy Integration:
Information about Cooperation with Canada and Mexico and among U.S. Agencies
GAO-18-575:Published: Aug 2, 2018. Publicly Released: Aug 2, 2018.

Nuclear Supply Chain:
DOE Has Not Used Its Enhanced Procurement Authority but Is Assessing Potential Use
GAO-18-572R:Published: Aug 2, 2018. Publicly Released: Aug 2, 2018.

Management Report:
Actions Needed to Improve National Nuclear Security Administration Contract Document Management
GAO-18-246R:Published: Aug 1, 2018. Publicly Released: Aug 1, 2018

GASB

GASB Proposes Improvements to Reporting of Conduit Debt Obligations  [08/06/18]
Media Advisory
Exposure Draft

IASB

06 August 2018
The IFRS Foundation has moved

01 August 2018
Summary of July 2018 IFRS Taxonomy Consultative Group meeting posted

IRS 

Tax Security 101 – Tax professionals victimized by data thefts offer hard-won security lessons to colleagues
IR-2018-161, Aug. 7, 2018 —  As cybercriminals continue to increasingly pursue tax professionals’ data, the IRS and the Security Summit partners today released lessons learned by victims in the tax community to help others avoid being targeted by identity thieves.

IRS issues guidance on small business accounting method changes under Tax Cuts and Jobs Act
IR-2018-160, Aug. 3, 2018 — The IRS issued guidance today on new tax law changes that allow small business taxpayers with average annual gross earnings of $25 million or less in the prior three-year period to use the cash method of accounting.

Treasury, IRS issue proposed regulations on new 100 percent depreciation
IR-2018-159, Aug. 3, 2018 — The Treasury Department and the Internal Revenue Service today issued proposed regulations on the new 100-percent depreciation deduction that allows businesses to write off most depreciable business assets in the year they are placed in service.

IRS and Treasury issue proposed regulations implementing Section 965
IR-2018-158, August 1, 2018 — The Internal Revenue Service and the Department of the Treasury today issued proposed regulations on section 965 of the Internal Revenue Code.

NYS Dept. of Taxation and Finance

Westchester Tax Preparer Indicted for Tax Fraud and Identity Theft
Aug. 2, 2018​

Former secretary/bookkeeper indicted by Ulster County Grand Jury for stealing from St Joseph's Roman Catholic Church and from elderly priest
Aug. 2, 2018​​

SEC

SEC Updates List of Firms Using Inaccurate Information to Solicit Investors
Washington D.C., Aug. 6, 2018 —The Securities and Exchange Commission today announced that it has updated its list of unregistered firms that use misleading information to primarily solicit non-U.S. investors, adding 16 soliciting entities, four impersonators of genuine firms, and nine bogus regulators.

TIGTA

2018-10-044 Status of the Implementation of the Federal Financial Management Improvement Act
Report Date: 08/01/2018
Audit Highlights: HTML
Audit Reports: PDF

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