Regulatory Roundup - Feb. 17-22

By:
Chris Gaetano
Published Date:
Feb 22, 2021

AICPA

 

Press Release

Leading Organizations in Public and Private Company Auditing Release New ESG Reporting and Attestation Roadmap

The roadmap provides tools to help independent auditors inform their clients’ approach to ESG disclosures.

February 17, 2021

 

CBO

Cost Estimate

Estimated Budget Effects of the American Rescue Plan Act of 2021

February 20, 2021

Report

A Comparison of Brand-Name Drug Prices Among Selected Federal Programs

February 18, 2021

Blog Post

A Presentation on CBO’s Latest Budget and Economic Projections

February 17, 2021

Interactive

How Changes in Revenues and Outlays Would Affect Debt Service, Deficits, and Debt

February 17, 2021

 

GAO

Countering Violent Extremism:

DHS Needs to Improve Grants Management and Data Collection

GAO-21-216:Published: Feb 1, 2021. Publicly Released: Feb 19, 2021.

Child Care:

Subsidy Eligibility and Receipt, and Wait Lists

GAO-21-245R:Published: Feb 18, 2021. Publicly Released: Feb 18, 2021.

Financial Audit:

Federal Deposit Insurance Corporation Funds' 2020 and 2019 Financial Statements

GAO-21-284R:Published: Feb 18, 2021. Publicly Released: Feb 18, 2021.

General Aviation:

Stakeholders Expressed Mixed Views of FAA Policies on Private Pilot Expense Sharing

GAO-21-285:Published: Feb 18, 2021. Publicly Released: Feb 18, 2021.

Technology Assessment Design Handbook
GAO-21-347G:Published: Feb 18, 2021. Publicly Released: Feb 18, 2021.

Workplace Safety and Health:

Actions Needed to Improve Reporting of Summary Injury and Illness Data

GAO-21-122:Published: Jan 27, 2021. Publicly Released: Feb 18, 2021.

Medicaid in Times of Crisis

GAO-21-343SP:Published: Feb 17, 2021. Publicly Released: Feb 17, 2021.

Military Housing:
DOD Has Taken Key Steps to Strengthen Oversight, but More Action Is Needed in Some Areas
GAO-21-389T: Published: Feb. 16, 2021 Publicly Released: Feb. 16, 2021

GASB

Fact Sheet: Financial Reporting Model Improvements  [02/19/21]
Executive Summary
Full Fact Sheet

 

IASB

19 February 2021

February 2021 IASB Update available and work plan updated

IRS

IRS reminds farmers and fishers of March 1 tax deadline

IR-2021-42, February 19, 2021 — The Internal Revenue Service is reminding those with income from a farming or fishing business that they can avoid making any estimated tax payments by filing and paying their entire tax due on or before March 1.

Low Income Taxpayer Clinics represented over 20,000 taxpayers dealing with an IRS tax controversy; see the latest program report and the 2021 LITC grant recipient list

IR-2021-41, February 19, 2021 — The Internal Revenue Service's Low Income Taxpayer Clinic (LITC) Program office today announced highlights from its 2020 annual report, featuring successful taxpayer outreach to thousands of taxpayers.

New law provides additional flexibility for health FSAs and dependent care assistance programs

IR-2021-40, February 18, 2021 — The Internal Revenue Service today provided greater flexibility, due to the pandemic, to employee benefit plans offering health flexible spending arrangements (FSAs) or dependent care assistance programs.

Twenty-four new members join the 2021 Taxpayer Advocacy Panel

IR-2021-39, February 18, 2021 — The Internal Revenue Service recommended, and the Department of the Treasury has approved, the selection of 24 new members to serve on the Taxpayer Advocacy Panel for 2021.

As required by law, all first and second Economic Impact Payments issued; eligible people can claim Recovery Rebate Credit

IR-2021-38, February 16, 2021 — The IRS announced today that, as required by law, all legally permitted first and second round of Economic Impact Payments have been issued and the IRS now turns its full attention to the 2021 filing season.

 

NYS

Governor Cuomo Accepts Report from DFS on Facebook Investigation
February 18, 2021

Superintendent Lacewell Announces DFS Approves New Bank Branch
February 18, 2021

Governor Cuomo Announces Open Enrollment for New Yorkers Is Extended to May 15 as Federal Marketplace Reopens for Millions of Americans
February 17, 2021

DFS Superintendent Linda A. Lacewell Announces Appointments to New York State Insurance Advisory Board
February 17, 2021​

SEC

SEC Awards Almost $3 Million Total in Separate Whistleblower Awards

2021-30, Feb. 19, 2021 — The Securities and Exchange Commission today announced two separate whistleblower awards for total payments of almost $3 million.

SEC Charges Ratings Agency With Disclosure And Internal Controls Failures Relating To Undisclosed Model Adjustments

2021-30, Feb. 19, 2021 — The Securities and Exchange Commission today announced two separate whistleblower awards for total payments of almost $3 million. In the first order, the SEC awarded a whistleblower over $2.2 million for providing important, high-quality information that aided an investigation. The whistleblower’s tip helped the SEC bring an enforcement action that resulted in the return of millions of dollars to harmed clients.

 

TIGTA

February 17, 2021
Obstacles Exist in Detecting Noncompliance of Tax-Exempt Organizations

Click here to see more of the latest news from the NYSSCPA.