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Regulatory Roundup: April 9-15

S.J. Steinhardt
Published Date:
Apr 15, 2024


AICPA and State CPA Societies Have ‘Grave Concerns’ with BOI Reporting
Apr 08, 2024


CBO’s Recent Publications and Work in Progress as of March 31, 2024

In this report, the latest in a quarterly series, CBO highlights its recent publications and summarizes its work in progress.

Cost Estimate
H.R. 6513, COCOA Act of 2023
As reported by the House Committee on House Administration on January 29, 2024

How H.R. 7032 Would Improve CBO’s Access to Data
H.R. 7032, the Congressional Budget Office Data Sharing Act, would amend the Congressional Budget Act of 1974 to clarify and strengthen the agency’s general authority for accessing data from executive branch agencies.

Acquisition Costs of the Navy’s Medium Landing Ship
CBO estimates that construction of 18 medium landing ships would cost between $6.2 billion and $7.8 billion in 2024 dollars. CBO’s estimates range from two to roughly three times the Navy’s current estimates.

Cost Estimate
S. 3654, Agency Preparation for Transitions Act of 2024
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on January 31, 2024

The Shipbuilding Composite Index and Its Rates of Change Compared With Economywide Inflation Rates

Between 1980 and 2022, the shipbuilding composite index grew an average of 1.2 percentage points faster per year than the GDP deflator did. Looking ahead, a gap of roughly 1 percentage point would be consistent with historical experience.

Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of April 15, 2024
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.

Testimony on the Congressional Budget Office’s Request for Appropriations for Fiscal Year 2025
CBO’s Director, Phillip Swagel, testifies before the House Appropriations Committee’s Subcommittee on the Legislative Branch.

Blog Post
Upcoming Presentations
CBO's Director, Phillip Swagel, discusses his most recent and upcoming presentations about the agency's long-term budget projections, demographic projections, and the overall fiscal outlook.

Workbook for How Changes in Economic Conditions Might Affect the Federal Budget: 2024 to 2034
This workbook allows users to define and analyze alternative economic scenarios by specifying differences in the values of four economic variables relative to the values underlying CBO's February 2024 projections.


Military Health Care:
DOD Should Improve Its Process for Clinical Adverse Actions against Providers

Publicly Released:  
The Defense Health Agency investigates concerns about the quality and safety of care that individual health care providers deliver in DOD medical facilities. If DHA finds evidence for those concerns, it can prohibit providers from DOD facilities or limit the services they can provide. DHA must also report the provider to a federal database that hospitals and others can use to screen providers. But DHA...

Economic Development:
Additional Training Could Help Small Lenders Implement Technology

Publicly Released:  
People in low- and moderate-income communities can't always access loans through traditional banks. Community Development Financial Institutions are organizations that provide financial services to fill this gap. Our survey of these institutions found that many small CDFIs don't have the technology to best serve their customers, manage operations, and conduct outreach. The Department of the Treasury receives funding to support CDFIs and has increased the...

Fiscal Year 2025 Budget Request:
U.S. Government Accountability Office

Publicly Released:  
In fiscal year 2023, GAO's work yielded $70.4 billion in financial benefits. Our average return on investment for the past 6 years is $133 for every $1 invested in GAO. In this testimony before the House Subcommittee on Legislative Branch Appropriations, U.S. Comptroller General Gene L. Dodaro discusses GAO's FY 2025 budget request. Our budget request will enable GAO to continue to meet key areas...

Broadband Deployment:
Agencies Should Take Steps to Better Meet Deadline for Processing Permits

Publicly Released:
The federal government is investing billions of dollars in expanding broadband access. Some new infrastructure—such as broadband towers—will be situated on federal lands. Federal agencies are required to process applications for such permits within 270 days. The Bureau of Land Management and the Forest Service process most of these applications. Between 2018-2022, both agencies missed the deadline for some applications and for others couldn't determine...

Coast Guard Health Care:
Information on Telehealth Usage

Publicly Released:
The Coast Guard began offering video and telephone telehealth appointments to its personnel in 2021 during the COVID-19 pandemic. In this Q&A , we reported that the benefits of the Coast Guard's telehealth program include increasing access to medical care for personnel located in remote locations. However, there are challenges. For instance, inconsistent internet connectivity aboard Coast Guard vessels could limit the use of telehealth...

Additional Efforts Needed to Improve Tribal Applicants' Access to Federal Programs Under Environmental Justice Initiative

Publicly Released:
Underserved communities, such as Tribes, face barriers to accessing federal funding—like cost-share requirements that require participants to contribute some funding up front. The Justice40 Initiative aims to increase underserved communities' access to funding, with a goal of directing 40% of the benefits of covered federal programs to such communities. However, some Justice40 program requirements also create access barriers. For example, competitive grants can include significant...

COVID-19 Relief:
State and Local Fiscal Recovery Funds Spending as of September 30, 2023

Publicly Released:
The Department of the Treasury has awarded billions of dollars to state and local governments to help them cover COVID-19 recovery costs. In this Snapshot , we update our prior work on the status of this funding, including spent funds and more. As of September 30, 2023: States, including the District of Columbia, have reported spending $103.7 billion, or 53% of their awards Localities have...

Aircraft Registrations:
Risks Remain from Efforts to Obscure Ownership Information

Publicly Released:
This testimony discusses our prior work on the FAA's management of the U.S. registry for civil aircraft. Accurate registry information can, for example, facilitate aircraft purchases or help investigators combat drug trafficking or money laundering. But the FAA generally relies on self-certification and doesn't verify information such as applicant identity or ownership. Shell company or limited liability company ownership can also make it hard to...

Higher Education:
Employment Discrimination Case Referrals Between Education and the Equal Employment Opportunity Commission Could Be Improved

Publicly Released:
Despite recent increases in Black and Hispanic employees on higher education faculties, they're still underrepresented. Current or prospective higher education faculty can file complaints of employment discrimination with the Equal Employment Opportunity Commission. They also file complaints with the Department of Education—which refers almost all of them to EEOC. About 90% of Education's referrals to EEOC are required to be sent within 30 days, but...

Coast Guard:
Aircraft Fleet and Aviation Workforce Assessments Needed

Publicly Released:
The Coast Guard protects and defends the U.S. coastline and inland waterways. It relies heavily on its fleet of about 200 aircraft to do so—especially for search and rescue missions. The Coast Guard is working to modernize its fleet. For example, it intends to consolidate its helicopters from 98 short-range and 48 medium-range helicopters to an all medium-range helicopter fleet. This would reduce the number...

IRS Direct File:
Actions Needed during Pilot to Improve Information on Costs and Benefits

Publicly Released:  
IRS is piloting Direct File during the 2024 tax filing season. It is a system that will guide certain taxpayers through preparing and filing their tax returns on IRS's website for free. IRS estimated that Direct File could cost $64-$249 million annually—depending on assumptions such as the number of taxpayers served. IRS estimated that participating taxpayers may save $21 million in tax preparation costs. However...


April 2024 International Accounting Standards Board agenda and meeting papers now available
12 April 2024

April 2024 International Sustainability Standards Board agenda and meeting paper now available
12 April 2024

Article: what is digital financial reporting and how can it help investors extract and analyse information?
11 April 2024

First episode of the ISSB Implementation Insights podcast now available
10 April 2024

New IFRS Accounting Standard will aid investor analysis of companies’ financial performance
IFRS Standard
9 April 2024


IRS delivers strong 2024 tax filing season; expands services for millions of people on phones, in-person and online with expanded funding
IR-2024-109, April 15, 2024 — With the April tax filing deadline here, the Internal Revenue Service highlighted a variety of improvements that dramatically expanded service for millions of taxpayers during the 2024 filing season. offers last-minute filing tips, resources to help taxpayers who still need to file before April 15; special Saturday hours in 70 locations
IR-2024-108, April 12, 2024 — With the April tax deadline arriving next week, the Internal Revenue Service today reminded millions of last-minute tax filers that the agency has a variety of free tools and resources available on

Treasury, IRS issue corrected census tracts for the Qualified Alternative Fuel Vehicle Refueling Property Credit
IR-2024-107, April 12, 2024 — The Department of Treasury and Internal Revenue Service today corrected Appendix A and Appendix B of Notice 2024-20 to add additional eligible census tracts for the qualified alternative fuel vehicle refueling property credit.

Need more time to file a federal tax return? It’s easy with IRS Free File
IR-2024-106, April 11, 2024 — With the April 15 tax filing deadline fast approaching, the Internal Revenue Service reminds taxpayers who need more time to file their return that receiving an extension is quick and easy through IRS Free File on

Dirty Dozen: Bogus tax avoidance strategies, schemes with an international element wrap up annual taxpayer awareness campaign
IR-2024-105, April 11, 2024 — The Internal Revenue Service wraps up the 2024 Dirty Dozen campaign with a warning to taxpayers regarding promoters selling bogus tax strategies and fraudulent offshore schemes designed to reduce or avoid taxes altogether.

Dirty Dozen: High-income filers vulnerable to illegal tax schemes; face risk from improper art donation deductions, charitable remainder annuity trusts, monetized installment sales
IR-2024-104, April 10, 2024 — As part of the Dirty Dozen campaign, the Internal Revenue Service warned wealthy individuals about three tax traps designed for them by dishonest promoters and shady tax practitioners.

IRS Free File can help those with no filing requirement get overlooked tax credits, refunds; extension requests also available
IR-2024-103, April 10, 2024 — The Internal Revenue Service today encouraged low- to moderate-income individuals and families, especially those who don’t normally file a tax return, to use IRS Free File to prepare their federal tax return and get potentially overlooked refunds and tax credits.

Treasury, IRS issue guidance on the credit for the production of clean hydrogen and the election to treat clean hydrogen production facilities as energy property
IR-2024-102, April 10, 2024 — The Treasury Department and Internal Revenue Service today issued guidance for the collection of information for taxpayers to request an emissions value from the Department of Energy (DOE) to petition the Secretary of the Treasury for a determination of a provisional emissions rate (PER).

Treasury and IRS announce new regulations on corporate stock repurchase excise tax
IR-2024-101, April 9, 2024 — The Department of the Treasury and the Internal Revenue Service today issued proposed regulations that would provide taxpayers and tax professionals with new guidance concerning the one percent excise tax owed on corporate stock repurchases.

Dirty Dozen: IRS warns tax pros, businesses to be cautious of ongoing spearphishing attacks to gain sensitive information; warns of surge in "new client" scams
IR-2024-100, April 9, 2024 — As part of the Dirty Dozen tax scams effort, the Internal Revenue Service today urged tax professionals and other businesses to remain vigilant and protect themselves against a continuing barrage of email spearfishing attempts designed to steal valuable information.


Take Advantage of Last-Minute Filing Resources Before Tax Day
April 12, 2024


Christine Gunia Named Director of the PCAOB’s Division of Registration and Inspections
Apr. 15, 2024

PCAOB Imposes $2 Million in Fines on Deloitte Indonesia and Deloitte Philippines, Bars Firm Leader After Exam Cheating Apr. 10, 2024

PCAOB Imposes Record $25 Million Fine on KPMG Netherlands and Bars a Firm Leader After Exam Cheating, Misinforming Investigators
Apr. 10, 2024

Chair Williams Press Conference Remarks: The PCAOB Will Not Tolerate Cheating
Apr. 10, 2024

PCAOB Issues Proposals on Standardizing Disclosure of Firm and Engagement Metrics and Modernizing the PCAOB’s Reporting Framework
Apr. 9, 2024

PCAOB Sanctions Singapore Firm for Quality Control Violations
Apr. 9, 2024


SEC Charges Five Investment Advisers for Marketing Rule Violations
Washington D.C., April 12, 2024 — The Securities and Exchange Commission today announced settled charges against five registered investment advisers for Marketing Rule violations. All five firms have agreed to settle the SEC’s charges and to pay $200,000 in combined penalties.

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