Regulatory Roundup: Aug. 6-12

By:
Chris Gaetano
Published Date:
Aug 12, 2019

AICPA 

Press Release
AICPA Honors University of Texas at Tyler Student with Medal of Inspiration Award
Indira Karimova, a student at the University of Texas at Tyler, was honored with the Beta Alpha Psi's Medal of Inspiration award.
August 8, 2019

CBO

Cost Estimate
H.R. 3661, Patriotic Employer Protection Act of 2019
August 9, 2019
As ordered reported by the House Committee on Small Business on July 17, 2019

Cost Estimate
H.R. 3889, ONDCP Technical Corrections Act of 2019
August 9, 2019
As ordered reported by the House Committee on Oversight and Reform on July 25, 2019

Report
Long-Term Implications of the 2020 Future Years Defense Program
August 9, 2019
According to CBO’s projections, if the plans described in the 2020 FYDP were implemented, DoD’s costs would increase from the $718 billion requested for 2020 to $776 billion (in 2020 dollars) by 2034.

Cost Estimate
S. 1427, Global Leadership in Advanced Manufacturing Act of 2019
August 9, 2019
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 10, 2019

Cost Estimate
S. 1869, Secure Federal LEASEs Act
August 9, 2019
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on June 19, 2019

Cost Estimate
S. 2119, Stop Improper Federal Bonuses Act
August 9, 2019
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on July 24, 2019

Cost Estimate
S. 384, a bill to require the Secretary of Commerce, acting through the Director of the National Institute of Standards and Technology, to help facilitate the adoption of composite technology in infrastructure in the United States, and for other purposes
August 9, 2019
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 10, 2019

Blog Post
CBO to Release Updated Budget and Economic Projections on August 21
August 7, 2019
CBO will release An Update to the Budget and Economic Outlook: 2019 to 2029 on Wednesday, August 21, at 11:00 a.m. The report will contain the agency’s latest budget and economic projections.

Cost Estimate
H.R. 1690, Safe Housing for Families Act of 2019
August 7, 2019
As ordered reported by the House Committee on Financial Services on June 26, 2019

Cost Estimate
H.R. 3106, Domestic and International Terrorism DATA Act
August 7, 2019
As ordered reported by the House Committee on Homeland Security on July 17, 2019

Cost Estimate
H.R. 3246, Traveling Parents Screening Consistency Act of 2019
August 7, 2019
As ordered reported by the House Committee on Homeland Security on July 17, 2019

Report
Monthly Budget Review for July 2019
August 7, 2019
The federal budget deficit was $867 billion for the first 10 months of fiscal year 2019, CBO estimates, $184 billion more than the deficit recorded during the same period last year. Revenues were $92 billion higher and outlays were $276 billion higher than in the same period in fiscal year 2018.

Cost Estimate
S. 143, Department of Energy Veterans’ Health Initiative Act
August 7, 2019
As ordered reported by the Senate Committee on Energy and Natural Resources on July 16, 2019

Cost Estimate
H.R. 2035, Lifespan Respite Care Reauthorization Act of 2019
August 6, 2019
As passed by the House of Representatives on July 24, 2019

Cost Estimate
H.R. 2590, DHS Overseas Personnel Enhancement Act of 2019
August 6, 2019
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on July 24, 2019

Cost Estimate
H.R. 335, South Florida Clean Coastal Waters Act of 2019
August 6, 2019
As ordered reported by the House Committee on Science, Space, and Technology on July 24, 2019

Cost Estimate
H.R. 3405, Uranium Classification Act of 2019
August 6, 2019
As ordered reported by the House Committee on Natural Resources on July 17, 2019

Cost Estimate
H.R. 3675, Trusted Traveler Reconsideration and Restoration Act of 2019
August 6, 2019
As ordered reported by the House Committee on Homeland Security on July 17, 2019

Cost Estimate
S. 1004, Securing America’s Ports of Entry Act of 2019
August 6, 2019
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on June 19, 2019

Cost Estimate
S. 1064, Appalachian Energy for National Security Act
August 6, 2019
As ordered reported by the Senate Committee on Energy and Natural Resources on July 16, 2019

Cost Estimate
S. 2035, TSA Credential and Endorsement Harmonization Act of 2019
August 6, 2019
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 24, 2019

Cost Estimate
S. 2107, Protecting America’s Food and Agriculture Act of 2019
August 6, 2019
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on July 24, 2019

Cost Estimate
S. 406, Federal Rotational Cyber Workforce Program Act of 2019
August 6, 2019
As ordered reported by the House Committee on Oversight and Reform on July 25, 2019

Cost Estimate
H.R. 2162, Housing Financial Literacy Act of 2019
As passed by the House of Representatives on July 9, 2019

Cost Estimate
H.R. 1138, an act to reauthorize the West Valley demonstration project, and for other purposes
As ordered reported by the Senate Committee on Energy and Natural Resources on July 16, 2019

Cost Estimate
H.R. 1373, Grand Canyon Centennial Protection Act
As ordered reported by the House Committee on Natural Resources on July 17, 2019

Cost Estimate
H.R. 3320, Securing the Homeland Security Supply Chain Act of 2019
As ordered reported by the House Committee on Homeland Security on July 17, 2019

Cost Estimate
H.R. 3362, Small Airport Mothers’ Rooms Act of 2019
As ordered reported by the House Committee on Transportation and Infrastructure on June 26, 2019

Cost Estimate
H.R. 3413, DHS Acquisition Reform Act of 2019
As ordered reported by the House Committee on Homeland Security on July 17, 2019

Cost Estimate
H.R. 3526, Counter Terrorist Network Act
As ordered reported by the House Committee on Homeland Security on July 17, 2019

Cost Estimate
H.R. 3722, Joint Task Force to Combat Opioid Trafficking Act of 2019
As ordered reported by the House Committee on Homeland Security on July 17, 2019

GAO

Guided Missile Frigate:
Navy Has Taken Steps to Reduce Acquisition Risk, but Opportunities Exist to Improve Knowledge for Decision Makers
GAO-19-512: Published: Aug 9, 2019. Publicly Released: Aug 9, 2019.

Medicaid Payment:
CMS Has Not Overseen States' Implementation of Changes to Third-Party Liability
GAO-19-601: Published: Aug 9, 2019. Publicly Released: Aug 9, 2019.

Obesity Drugs:
Few Adults Used Prescription Drugs for Weight Loss and Insurance Coverage Varied
GAO-19-577: Published: Aug 9, 2019. Publicly Released: Aug 9, 2019.

Global Tobacco Control:
U.S. Efforts Have Primarily Focused on Research and Surveillance
GAO-19-533R: Published: Aug 8, 2019. Publicly Released: Aug 8, 2019.

Nuclear Supply Chain:
NNSA Should Notify Congress of Its Recommendations to Improve the Enhanced Procurement Authority
GAO-19-606R: Published: Aug 8, 2019. Publicly Released: Aug 8, 2019.

Generic Drug Applications:
FDA Should Take Additional Steps to Address Factors That May Affect Approval Rates in the First Review Cycle
GAO-19-565: Published: Aug 7, 2019. Publicly Released: Aug 7, 2019.

VA Health Care:
Goals and Related Measures Needed to Better Assess the Impact of Same-Day Services
GAO-19-546: Published: Aug 7, 2019. Publicly Released: Aug 7, 2019.

Land Ports of Entry:
CBP Should Update Policies and Enhance Analysis of Inspections
GAO-19-658: Published: Aug 6, 2019. Publicly Released: Aug 6, 2019.

GASB

Registration Opens for CPE Webinar IN FOCUS: GASB Implementation Guides for Fiduciary Activities and Leases  [08/06/19]
Media Advisory
Course Description and Registration

IASB

12 August 2019
Accounting Standards Advisory Forum meeting summary now available

08 August 2019
Meet the new Board members

08 August 2019
Call for members—IFRS Taxonomy Consultative Group

07 August 2019
Draft Q&A on the IFRS for SMEs Standard published for public comment

IRS 

Individuals with significant tax debt should act promptly to avoid revocation of passports
IR-2019-141, August 8, 2019 — The Internal Revenue Service today urged taxpayers to resolve their significant tax debts to avoid putting their passports in jeopardy. They should contact the IRS now to avoid delays in their travel plans later.

Tax Security 2.0 – A “Taxes-Security-Together” Checklist – Step 4
IR-2019-140, August 6, 2019 — The IRS and its Security Summit partners today urged tax professionals to learn the tell-tale signs that their office may have experienced a data theft that resulted in fraudulent tax returns being filed in their clients’ names.

IRS launches new Tax Withholding Estimator; Redesigned online tool makes it easier to do a paycheck checkup
IR-2019-139, August 6, 2019  — The Internal Revenue Service today launched the new Tax Withholding Estimator, an expanded, mobile-friendly online tool designed to make it easier for everyone to have the right amount of tax withheld during the year.

NYS Dept. of Taxation and Finance

Rochester Business Owner Accused of Forging Invoices and Pocketing Sales Tax Collected from Customers
August 08, 2019​

SEC

SEC Proposes to Modernize Disclosures of Business, Legal Proceedings, and Risk Factors Under Regulation S-K
019-148 Washington D.C., Aug. 8, 2019 —The Securities and Exchange Commission today announced that it has voted to propose rule amendments to modernize the description of business, legal proceedings, and risk factor disclosures that registrants are required to make pursuant to Regulation S-K.  The proposed amendments are intended to update the rules to improve disclosures for investors and to simplify compliance efforts for registrants.

SEC Investor Advisory Committee to Hold Telephone Meeting on Sept. 5
2019-147 Washington D.C., Aug. 8, 2019 — The Securities and Exchange Commission’s Investor Advisory Committee will meet telephonically on Sept. 5 at 11 a.m. Eastern time. The public is invited to listen to the meeting live using the dial-in details provided below. A recording of the meeting will be archived on the committee’s webpage for later listening.

SEC Announces Agenda and Panelists for 2019 Small Business Forum in Omaha
2019-146 Washington D.C., Aug. 7, 2019 — The Securities and Exchange Commission today announced the agenda and panelists for the 2019 Government-Business Forum on Small Business Capital Formation.  The August 14 event will be hosted in partnership with the Heider College of Business at Creighton University and will be held in the Hixon-Lied Auditorium of the Mike and Josie Harper Center on the university’s campus in Omaha, Nebraska.  It will begin at 9:00 a.m. CT/10:00 a.m. ET and will be open to the public.  The full agenda and bios of panelists are available on the Forum webpage.

SEC Adopts Amendments to Codify Exemption to Credit Rating Agency Rule
2019-145  Washington D.C., Aug. 7, 2019 — The Securities and Exchange Commission today announced that it has voted to adopt rule amendments codifying an existing exemption for credit rating agencies registered with the Commission as nationally recognized statistical rating organizations (NRSROs).

TIGTA

Additional Actions Are Needed to Reduce Alimony Reporting Discrepancies on Income Tax Returns August 7, 2019 

Fiscal Year 2019 Statutory Audit of Compliance With Notifying Taxpayers of Their Rights When Requested to Extend the Assessment Statute
August 7, 2019

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