Trusted Professional

Regulatory Roundup - Feb. 22-28

AICPA 

AICPA Now Accepting Applicants to George Willie Scholarship Program 
February 22, 2022 

CBO 

Cost Estimate 
H.R. 3197, Save the Liberty Theatre Act of 2021 
February 25, 2022
As ordered reported by the House Committee on Natural Resources on November 17, 2021

Cost Estimate 
S. 1880, Protecting Indian Tribes from Scams Act 
February 25, 2022
As reported by the Senate Committee on Commerce, Science, and Transportation on December 17, 2021

Cost Estimate 
S. 753, Highlands Conservation Reauthorization Act of 2021 
February 25, 2022
As ordered reported by the Senate Committee on Energy and Natural Resources on November 18, 2021

Cost Estimate 
H.R. 1975, Pala Band of Mission Indians Land Transfer Act of 2021 
February 24, 2022
As passed by the House of Representatives on November 2, 2021

Cost Estimate 
H.R. 2088, Eastern Band of Cherokee Historic Lands Reacquisition Act 
February 24, 2022
As passed by the House of Representatives on November 2, 2021

Cost Estimate 
H.R. 4009, Enslaved Voyages Memorial Act 
February 24, 2022
As ordered reported by the House Committee on Natural Resources on January 19, 2022

Cost Estimate 
H.R. 4513, Small Business Advanced Cybersecurity Enhancements Act of 2021 
February 24, 2022
As reported by the House Committee on Small Business on October 12, 2021

Cost Estimate 
H.R. 4588, Regional Innovation Act of 2021 
February 24, 2022
As ordered reported by the House Committee on Science, Space, and Technology on July 27, 2021

Cost Estimate 
H.R. 820, New Philadelphia National Historic Site Act 
February 24, 2022
As ordered reported by the House Committee on Natural Resources on July 14, 2021

Cost Estimate 
S. 491, York River Wild and Scenic River Act of 2021 
February 24, 2022
As reported by the Senate Committee on Energy and Natural Resources on December 16, 2021

Cost Estimate 
S. 569, Gilt Edge Mine Conveyance Act 
February 24, 2022
As reported by the Senate Committee on Energy and Natural Resources on January 19, 2022

Working Paper 
Economic Effects of Five Illustrative Single-Payer Health Care Systems: Working Paper 2022-02 
February 23, 2022
CBO used a general-equilibrium, overlapping-generations model to analyze the economic and distributional implications of five illustrative single-payer health care systems. The working paper builds on previous CBO studies about single-payer health care systems.

Cost Estimate 
H.R. 4515, Small Business Development Center Cyber Training Act of 2021 
February 23, 2022
As passed by the House of Representatives on November 2, 2021

Cost Estimate 
H.R. 612, the Downwinders Parity Act of 2021 
February 23, 2022
As reported by the House Committee on the Judiciary on December 20, 2021

Presentation 
Navy Shipbuilding: Prospects for Building a Larger Fleet 
February 23, 2022
Presentation by Eric J. Labs, an analyst in CBO’s National Security Division, at the 37th Annual Spring Meeting of the Marine Machinery Association.

Cost Estimate 
H.R. 166, Fair Lending for All Act 
February 22, 2022
As ordered reported by the House Committee on Financial Services on May 12, 2021

Cost Estimate 
H.R. 2553, Real Estate Valuation Fairness and Improvement Act of 2021 
February 22, 2022
As ordered reported by the House Committee on Financial Services on April 21, 2021

Cost Estimate 
H.R. 4256, Investing in Main Street Act of 2021 
February 22, 2022
As passed by the House of Representatives on November 2, 2021

Cost Estimate 
H.R. 4881, Old Pascua Community Land Acquisition Act 
February 22, 2022
As passed by the House of Representatives on November 2, 2021

Report 
The Congressional Budget Office’s Request for Appropriations for Fiscal Year 2023 
February 22, 2022
In its budget request for fiscal year 2023, CBO requested appropriations of $64.6 million, up from $61 million requested for 2022. The request is based on strong interest in CBO’s work from Congressional leadership, committees, and Members. 

GAO 

Littoral Combat Ship 
Actions Needed to Address Significant Operational Challenges and Implement Planned Sustainment Approach 
GAO-22-105387 
Published: Feb 24, 2022. 
Publicly Released: Feb 24, 2022. 
The Navy is planning for a total of 35 Littoral Combat Ships, which are designed to operate in shallow waters close to shore. But the Navy hasn't demonstrated that this type of ship can perform its intended missions. For example, operational testing found challenges in the ship's defenses. 

Employer-Provided Child Care Credit 
Estimated Claims and Factors Limiting Wider Use 
GAO-22-105264 
Published: Feb 24, 2022. 
Publicly Released: Feb 24, 2022. 
The Employer-Provided Child Care Credit can give employers a tax incentive for offering certain child care benefits. For example, employers can reduce the taxes they owe by taking the credit for expenses related to providing a child care facility to their employees. 

Information Technology 
OPM Needs to Adopt Key Practices in Modernizing Legacy Financial System 
GAO-22-104206 
Published: Feb 23, 2022. 
Publicly Released: Feb 23, 2022. 
The Office of Personnel Management's outdated and struggling Federal Financial System helps manage over $1 trillion in assets to support over 8 million federal employees and retirees. In FY 2017, OPM began a program to replace the system. OPM has completed several phases of the replacement effort. 

Child Welfare 
HHS Should Facilitate Information Sharing Between States to Help Prevent and Address Maltreatment in Residential Facilities 
GAO-22-104670 
Published: Jan 24, 2022. 
Publicly Released: Feb 23, 2022. 
State and local agencies are primarily responsible for helping to prevent abuse and neglect in youth residential facilities, but incidents continue to occur.

Public-Safety Broadband Network 
Congressional Action Required to Ensure Network Continuity 
GAO-22-104915 
Published: Feb 22, 2022. 
Publicly Released: Feb 22, 2022. 
Legislation set up an independent authority (FirstNet) to create a nationwide broadband network for first responders, such as police officers and firefighters. FirstNet contracted with AT&T to deploy the network, which will be fully operational in 2023. 

IASB 

March 2022 Due Process Oversight Committee meeting papers available 
28 February 2022 
MEETING 

Join the staff—Customer Services Representative 
25 February 2022 
CAREERS 

IRS 

IRS updates FAQs for the Premium Tax Credit 
IR-2022-44, February 24, 2022 — The Internal Revenue Service today updated its frequently asked questions (FAQs) on the Premium Tax Credit. 

Tax Time Guide: Use the Where’s My Refund? tool or IRS2Go app to conveniently check tax refund status 
IR-2022-43, February 24, 2022 — The Internal Revenue Service reminds taxpayers today that the fastest and easiest way to check on tax refunds is by using the Where's My Refund? tool on IRS.gov or through the IRS2Go mobile app. 

Interest rates increase for the second quarter of 2022 
IR-2022-42, February 23, 2022 — The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning April 1, 2022. 

2022 Low Income Taxpayer Clinic List now available 
IR-2022-41, February 22, 2022 — The IRS's Low Income Taxpayer Clinic (LITC) program office announced today that its 2022 Publication 4134, Low Income Taxpayer Clinic List, is now available. 

NYS 

Free Tax Filing Assistance Available in Western New York Press Release - February 24, 2022: Governor Hochul Announces Formation of Advisory Council to Support Institutions that Lend in Communities of Color Superintendent Adrienne A. Harris Announces $35 Million Penalty on National Bank of Pakistan for Repeated Compliance Failures Free Tax Filing Assistance Available in the Capital Region Control of Municipal Credit Union Returned to Members SEC 

SEC Proposes Short Sale Disclosure Rule, Order Marking Requirement, and CAT Amendments Feb. 25, 2022 —  

SEC Charges Health Care Co. and Two Former Employees for Accounting Improprieties   Feb. 22, 2022 —