AICPA
AICPA to Congress: “The [BOI] rule should be suspended”
Feb 16, 2024
AICPA Recommends Foreign-Owned U.S. Disregarded Entities be Allowed to Electronically File Form 5472
Feb 15, 2024
AICPA & CIMA Chief Executive – Management Accounting comments on the latest UK GDP figures
Feb 15, 2024
AICPA Requests Guidance on International Information Reporting for Domestic Grantor Trusts
Feb 14, 2024
AICPA Submits Comments to Treasury on Tax Issues of OECD Pillar Two
Feb 14, 2024
CBO
Cost Estimate
S. 3635, Industrial Control Systems Cybersecurity Competition Act
February 20, 2024
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on January 31, 2024
Cost Estimate
H.R. 7159, Pacific Partnership Act
February 16, 2024
As ordered reported by the House Committee on Foreign Affairs on February 6, 2024
Interactive
How Changes in Revenues and Outlays Would Affect Debt-Service Costs, Deficits, and Debt
February 16, 2024
This interactive workbook allows users to see how revenues and outlays that differed from those in CBO’s February 2024 baseline budget projections would increase or decrease net interest costs and thus affect deficits and debt.
Cost Estimate
H.R. 7089, Global Anti-Human Trafficking Enhancement Act
February 15, 2024
As ordered reported by the House Committee on Foreign Affairs on February 6, 2024
Cost Estimate
H.R. 7152, Divided Families National Registry Act
February 15, 2024
As ordered reported by the House Committee on Foreign Affairs on February 6, 2024
Cost Estimate
H.R. 766, Dr. Michael C. Burgess Preventive Health Savings Act
February 15, 2024
As ordered reported by the House Committee on the Budget on February 6, 2024
Blog Post
Presentations on CBO’s New Projections
February 15, 2024
CBO's Director, Phillip Swagel, discusses his most recent and upcoming presentations about the projections in CBO’s report, "The Budget and Economic Outlook: 2024 to 2034."
Cost Estimate
H.R. 5301, Eliminate Useless Reports Act of 2023
February 14, 2024
As ordered reported by the House Committee on the Budget on February 6, 2024
Cost Estimate
H.R. 7032, Congressional Budget Office Data Sharing Act
February 14, 2024
As ordered reported by the House Committee on the Budget on February 6, 2024
Report
Testimony on The Budget and Economic Outlook: 2024 to 2034
February 14, 2024
CBO’s Director, Phillip Swagel, testifies before the House Budget Committee.
Cost Estimate
H.R. 4141, BARS Act
February 13, 2024
As ordered reported by the House Committee on Natural Resources on July 26, 2023
Cost Estimate
H.R. 529, Extending Limits of U.S. Customs Waters Act
February 13, 2024
As ordered reported by the House Committee on Ways and Means on November 30, 2023
Cost Estimate
H.R. 6046, Standing Against Houthi Aggression Act
February 13, 2024
As ordered reported by the House Committee on Foreign Affairs on February 6, 2024
Cost Estimate
S. 2088, Wounded Knee Massacre Memorial and Sacred Site Act
February 13, 2024
As ordered reported by the Senate Committee on Indian Affairs on November 15, 2023
Cost Estimate
S. 3613, Improving Federal Building Security Act of 2024
February 13, 2024
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on January 31, 2024
Cost Estimate
H.R 6276, USE IT Act of 2023
February 12, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on December 6, 2023
Cost Estimate
S. 3594, Source code Harmonization and Reuse in Information Technology Act
February 12, 2024
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on January 31, 2024
GAO
Oil and Gas Pipelines:
Agencies Should Improve Oversight of Decommissioning
GAO-24-106444
Published:
Publicly Released: "Gathering pipelines" carry oil and natural gas from wells to other pipelines or facilities. Many—although an exact number is unknown—are located on federal lands and were installed decades ago. If not taken out of service properly, the pipelines may pose safety and environmental risks—including spills, emissions, or explosions. In this Q&A report, we look at the challenges several federal agencies face with ensuring the pipelines...
Offshore Oil and Gas:
Interior Needs to Improve Decommissioning Enforcement and Mitigate Related Risks GAO-24-106229
Published:
Publicly Released:
Oil and gas companies with offshore infrastructure must decommission it when it's no longer useful—by plugging wells and removing platforms within set deadlines. As of June 2023, more than 2,700 wells and 500 platforms were overdue for decommissioning in the Gulf of Mexico. Delays can increase environmental, safety, and financial risks. For example, delays could indicate that companies are in financial trouble and may leave...
Coast Guard:
Enhanced Safety Oversight Needed for Fish Tender Vessels
GAO-24-106729
Published: . Publicly Released: ."Fish tenders" are commercial boats that transport fish among fishing boats and processing facilities. To help prevent capsizing, some fish tenders must meet "load line" requirements. These rules help ensure safety and prevent overloading in different water conditions. In 2015, the Coast Guard realized that it had mistakenly not enforced these requirements for some part-time fish tenders in Alaska and the Pacific Northwest. In 2018...
401(k) Plans:
Additional Federal Actions Would Help Participants Track and Consolidate Their Retirement Savings
GAO-24-103577
Published: . Publicly Released: .
Investing in employer-sponsored 401(k) plans is the most common way American workers save for retirement. However, people can face challenges tracking their 401(k) accounts when they transfer jobs. Some countries use pension dashboards that allow participants to see and manage all their current and old plan savings in one place. This could be useful in the U.S., but Congress would need to authorize a federal..
The Nation's Fiscal Health:
Road Map Needed to Address Projected Unsustainable Debt Levels
GAO-24-106987
Published: Feb 15, 2024
Publicly Released: Feb 15, 2024
The federal government faces an unsustainable long-term fiscal path that poses serious economic, security, and social challenges if not addressed. Our review of the nation's fiscal health found: Debt is projected to grow faster than the economy, reaching 200% of GDP by 2050 if revenue and spending policies are unchanged Large budget deficits drive the growing debt, as Medicare and Social Security spending outpace revenue...
VA Health Care:
Opportunities Exist to Further Meet Student Veterans' Mental Health Needs
GAO-24-106620
Published: Feb 15, 2024
Publicly Released: Feb 15, 2024
Research suggests that student veterans are more likely to suffer from mental health challenges, including depression and anxiety, than other students. To help, the Veterans Health Administration partners with some colleges and universities to provide campus-based mental health care and other support for student veterans. As of October 2023, roughly a quarter of VHA's health care systems offered this program. It may be hard for...
Climate Change:
Options to Enhance the Resilience of Federally Funded Flood Risk Management Infrastructure
GAO-24-105496
Published: Jan 16, 2024
Publicly Released: Feb 15, 2024
The U.S. Army Corps of Engineers plans and builds much of the nation's flood risk management infrastructure—including levees, dams, and floodgates—that protect communities from extreme weather events and rising sea levels due to climate change. We identified 14 options the Corps can take to enhance the climate resilience of flood risk management infrastructure. This includes updating planning guidance to require that all projects incorporate how...
Financial Audit:
FY 2023 and FY 2022 Consolidated Financial Statements of the U.S. Government
GAO-24-106660
Published: Feb 15, 2024
Publicly Released: Feb 15, 2024
The Financial Report of the U.S. Government provides a comprehensive view of government finances, including revenues, costs, assets, liabilities, and long-term sustainability. We audit the financial statements in that report each year, but we haven't yet been able to determine if they are fairly presented. This year, it was primarily due to: Serious financial management problems at the Department of Defense Problems in accounting for...
DHS Employee Misconduct:
Actions Needed to Better Assess Differences in Supervisor and Non-Supervisor Discipline
GAO-24-105820
Published: Feb 14, 2024
Publicly Released: Feb 14, 2024
We examined equity for supervisors and non-supervisors in the Department of Homeland Security's employee disciplinary processes. At the DHS agencies we reviewed, supervisors were less likely to be disciplined than non-supervisors for alleged misconduct. DHS officials said this could be because more allegations brought against supervisors either don't rise to the level of misconduct or can't be substantiated in investigations. But DHS doesn't require its...
Environmental Cleanup:
DOD Should Communicate Future Costs for Red Hill Remediation and Closure
GAO-24-106185
Published: Feb 14, 2023
Publicly Released: Feb 14, 2024
In November 2021, a large fuel spill at the Red Hill facility—part of a fuel storage system the Navy manages on O'ahu, Hawaii—contaminated portions of the surrounding area and a nearby well. DOD plans to close the facility but cleaning up the contamination could take decades. Yet the agency's reports to Congress about the work haven't included cost estimates beyond FY 2024. As a result...
IRS Reform:
Following Leading Practices and Improving Cost Estimation Policies Could Benefit Agency Efforts
GAO-24-106091
Published: Feb 14, 2024
Publicly Released: Feb 14, 2024
After years of reductions in funding, Congress provided IRS with tens of billions of dollars to address longstanding tax administration challenges, such as outdated technology. In 2023, IRS released its Strategic Operating Plan, which includes a high-level vision and transformation objectives. Leading agency reform practices identified in our prior work can help IRS meet its goals. Following our best practices could help IRS better estimate...
Whistleblowers:
Disclosures and Retaliation Complaints to Pandemic Auditors
GAO-24-106655
Published: Feb 13, 2024
Publicly Released: Feb 13, 2024
Federal law protects people who work for federal contractors from being fired or retaliated against for blowing the whistle on fraudulent or illegal activity. The law also covers people who work for organizations that receive federal grant money. This Q&A report explains how three federal entities—including two auditing groups set up as part of COVID-19 relief laws—handle tips from whistleblowers. All three entities told us...
Small Business Innovation Research:
Better Data and Clarity on Eligibility of Venture Capital-Owned Businesses Are Needed
GAO-24-107004
Published: Feb 13, 2024
Publicly Released: Feb 13, 2024
Agencies make Small Business Innovation Research awards to help small businesses bring their technologies to market. In this Q&A report, we review agencies' awards to businesses owned by venture capital firms, hedge funds, or private equity firms. These awards increased substantially in FYs 2021-2023—largely due to awards from DOD. But DOD found reliability issues with its data on such firms, so the extent of the...
Puerto Rico Disasters:
Progress Made, but the Recovery Continues to Face Challenges
GAO-24-105557
Published: Feb 13, 2024
Publicly Released: Feb 13, 2024
As of June 2023, FEMA has awarded $23.4 billion in Public Assistance funds for Puerto Rico to recover from the 2017 hurricanes and 2019 and 2020 earthquakes. Of that, it has spent $1.8 billion and a lot of work remains, but increased costs may lead to funding shortfalls for projects. For example, parts for the San Juan Power Plant project exceeded estimates by $3 million...
DOD Law of War Policies:
Actions Needed to Ensure Proper Reporting and Retention of Alleged Violations
GAO-24-107217
Published: Feb 13, 2024
Publicly Released: Feb 13, 2024
The U.S. military must follow the law of war, which sets out rules—such as prohibiting torture and unnecessary destruction—for armed conflicts. DOD has procedures for complying with the law, including how alleged violations should be reported. But DOD doesn't have a system for retaining comprehensive records of these alleged violations. Some of the military components we reviewed also didn't retain complete records of alleged violations...
DOD Intelligence:
Actions Needed to Strengthen Program Oversight and Manage Risks
GAO-24-106190
Published: Feb 13, 2024
Publicly Released: Feb 13, 2024
The Department of Defense has an independent office responsible for overseeing DOD's intelligence activities and ensuring that they comply with federal law and agency directives. From 2017-2022, the oversight office recommended hundreds of improvements to DOD's intelligence community. But the office hasn't monitored whether all these recommendations have been implemented. Also, the oversight office has stopped inspecting individual offices and agencies and has shifted to...
Commonwealth of the Northern Mariana Islands:
Greater Transparency Could Improve Worker Ratio Reports
GAO-24-106698
Published: Feb 13, 2024
Publicly Released: Feb 13, 2024
The Commonwealth of the Northern Mariana Islands is a U.S. territory in the Pacific. In this Q&A report, we review its worker data and reporting from 2018-2022. U.S. workers made up at least half of employed workers U.S. workers comprised a greater portion of employed workers in 2022 than in 2018 During this time, the economy declined due to a typhoon, COVID-19, and the closure...
K-12 Education:
DOD Has Taken Steps to Support Students Affected by Problematic Sexual Behaviors, but Challenges Remain GAO-24-106182
Published: Feb 13, 2024
Publicly Released: Feb 13, 2024
The Department of Defense school system collects detailed information about reported unwanted sexual behaviors—from inappropriate touching to sexual assault—among its more than 66,000 students. However, some students involved in such incidents may not be getting the support they need, such as mental health counseling. The military's Family Advocacy Program is charged with responding to these incidents, but only military dependents are eligible for most of...
Coral Reef Conservation Program:
Opportunities Exist to Better Track Expenditures and Share Information
GAO-24-106692
Published: Feb 13, 2024
Publicly Released: Feb 13, 2024
Coral reefs host rich marine ecosystems and protect coastlines from flooding and erosion—providing global benefits estimated to be worth trillions of dollars annually. But coral reefs face threats such as ocean warming, disease, and tourism. The federal Coral Reef Conservation Program plays a key role in conserving and restoring coral reefs. In this Q&A report, we looked at the program's budget and accounting practices. The...
Tax Compliance:
Opportunities Exist to Improve IRS High-Income/High-Wealth Audits
GAO-24-106112
Published: Jan 11, 2024
Publicly Released: Feb 12, 2024
In 2020, to address a decline in audit rates for the highest-income taxpayers, the Department of the Treasury directed IRS to audit at least 8% of tax returns filed by individuals with income of $10 million or more. While IRS has increased the number of these audits, IRS still needs to assess its: Research efforts to understand the complexity of high-income returns Audit selection models...
Online Extremism:
More Complete Information Needed about Hate Crimes that Occur on the Internet
GAO-24-105553
Published: Jan 12, 2024
Publicly Released: Feb 12, 2024
Substantial numbers of internet users have experienced online hate in recent years, according to studies we reviewed. Research and government reports have shown associations between online hate and hate crimes. For example, a peer-reviewed study linked uncivil internet comments with hate crimes against Asians in some U.S. cities during the pandemic. The Department of Justice collects hate crime data from law enforcement agencies. DOJ also...
IASB
ISSB Standards now available in Japanese and Korean
Translated Content
20 February 2024
Call for members—IFRS Sustainability Reference Group
Appointment
20 February 2024
IFRS Foundation webcast highlights importance of industry-specific disclosures to investors
Webcast
19 February 2024
IFRS Foundation Trustees announce appointments to the IFRS Advisory Council from 1 January 2024
19 February 2024
March 2024 Global Preparers Forum agenda and meeting papers now available.
Meeting
19 February 2024
March 2024 Global Preparers Forum agenda and meeting papers now available.
Meeting
16 February 2024
February 2024 International Sustainability Standards Board agenda and meeting papers now available
Meeting
14 February 2024
February IASB meeting agenda change—additional day added
14 February 2024
IRS
IRS: Many farmers and fishers face March 1 tax deadline
IR-2024-43, Feb. 20, 2024 — The Internal Revenue Service today reminded farmers and fishers who chose to forgo making estimated tax payments by January that they must generally file their 2023 federal income tax return and pay all taxes due by Friday, March 1, 2024.
IRS: Michigan taxpayers impacted by severe storms, tornadoes and flooding qualify for tax relief; various deadlines postponed to June 17
IR-2024-42, Feb. 15, 2024 — The Internal Revenue Service today announced tax relief for individuals and businesses in parts of Michigan affected by severe storms, tornadoes and flooding that began on Aug. 24, 2023.
IRS announces special Saturday hours for face-to-face help; more than 50 Taxpayer Assistance Centers open across the nation
IR-2024-41, Feb. 14, 2024 — As part of a continuing effort to improve service this tax season, the Internal Revenue Service today announced special Saturday hours for the next four months at specific Taxpayer Assistance Centers (TACs) across the country.
Presidents Day period marks peak time for IRS phone lines; first try IRS online tools and resources for help
IR-2024-40, Feb. 14, 2024 — With the 2024 filing season in full swing, the Internal Revenue Service encourages taxpayers to visit IRS.gov and use online tools to get answers quickly and avoid phone delays during the anticipated peak demand for IRS phone lines around the Presidents Day holiday.
IRS shares 7 warning signs Employee Retention Credit claims may be incorrect; urges businesses to revisit eligibility, resolve issues now before March 22
IR-2024-39, Feb. 13, 2024 — With a key March deadline quickly approaching, the Internal Revenue Service today highlighted special warning signs that an Employee Retention Credit claim may be questionable to help small businesses that may need to resolve incorrect claims.
IRS crime-fighting boss announces retirement
IR-2024-38, Feb. 12, 2024 — Internal Revenue Service Criminal Investigation (CI) announced Friday that Chief Jim Lee will retire from federal service, effective April 6.
PCAOB
Michael Weigand Named Director of the PCAOB’s Office of Internal Oversight and Performance Assurance
Feb. 13, 2024
SEC
SEC Small Business Advisory Committee to Discuss the Accredited Investor Definition and the State of the IPO Market
2024-23
Washington D.C., Feb. 16, 2024 — The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee today released the agenda for its meeting on Tuesday, Feb. 27, which will include a discussion of the accredited investor definition and initial public offerings (IPOs). Members of the public can watch the live meeting via webcast on www.sec.gov.
SEC Charges TIAA Subsidiary for Failing to Act in the Best Interest of Retail Customers
2024-22
Washington D.C., Feb. 16, 2024 — The Securities and Exchange Commission today announced that registered broker-dealer TIAA-CREF Individual & Institutional Services LLC (TC Services), a subsidiary of Teachers Insurance and Annuity Association of America (TIAA), will pay more than $2.2 million to settle charges that it failed to comply with Regulation Best Interest (Reg BI) in connection with recommendations to retail customers to open a TIAA Individual Retirement Account (TIAA IRA).
SEC Publishes Annual Staff Report on Nationally Recognized Statistical Rating Organizations
2024-21
Washington D.C., Feb. 16, 2024 — The Securities and Exchange Commission’s Office of Credit Ratings published its annual Staff Report to Congress today on Nationally Recognized Statistical Rating Organizations (NRSROs), commonly known as credit rating agencies, to provide findings on its examinations of the agencies, and to discuss the state of competition, transparency, and conflicts of interest among them.
SEC Charges Van Eck Associates for Failing to Disclose Influencer’s Role in Connection with ETF Launch
2024-20
Washington D.C., Feb. 16, 2024 — The Securities and Exchange Commission today announced that registered investment adviser Van Eck Associates Corporation has agreed to pay a $1.75 million civil penalty to settle charges that it failed to disclose a social media influencer’s role in the launch of its new exchange-traded fund (ETF).
SEC Proposes Rule to Update Definition of Qualifying Venture Capital Funds
2024-19
Washington D.C., Feb. 14, 2024 — The Securities and Exchange Commission today proposed a rule that would update the dollar threshold for a fund to qualify as a “qualifying venture capital fund” for purposes of the Investment Company Act of 1940 (Act). The rule would update the dollar threshold to $12 million aggregate capital contributions and uncalled committed capital, up from the current standard of $10 million.
TIGTA
Annual Assessment of the IRS’s Information Technology Program for Fiscal Year 2023
February 12, 2024