Trusted Professional

Regulatory Roundup: Nov. 14-27

CBO 

Cost Estimate
H.R. 5655, Camp Nelson National Monument Act
November 21, 2018

Cost Estimate
H.R. 4895, Medgar and Myrlie Evers Home National Monument Act
November 21, 2018

Cost Estimate
H.R. 5979, Mill Springs Battlefield National Monument Act

November 21, 2018

Cost Estimate
S. 2166, Endangered Fish Recovery Programs Extension Act

November 20, 2018

Cost Estimate
S. 1403, 21st Century Conservation Service Corps Act

November 20, 2018

Cost Estimate
S. 2154, Kickapoo Tribe in Kansas Water Rights Settlement Agreement Act

November 20, 2018

Cost Estimate
H.R. 1967, Bureau of Reclamation Pumped Storage Hydropower Development Act

November 20, 2018

Cost Estimate
H.R. 857, California Desert Protection and Recreation Act of 2018

November 19, 2018

Cost Estimate
H.R. 5306, Ensuring Medicaid Provides Opportunities for Widespread Equity, Resources, and Care Act

November 19, 2018

Cost Estimate
H.R. 6021, Small Business Audit Correction Act of 2018

November 19, 2018

Cost Estimate
S. 785, Alaska Native Vietnam Era Veterans Land Allotment Act

November 19, 2018

Cost Estimate
H.R. 3593, Securing Our Borders and Wilderness Act

November 19, 2018

Cost Estimate
S. 569, Land and Water Conservation Authorization and Funding Act

November 19, 2018

Cost Estimate
H.R. 6507, Oil Region National Heritage Area Reauthorization Act

November 19, 2018

Cost Estimate
H.R. 6602, a bill to reauthorize the New Jersey Coastal Heritage Trail Route, and for other purposes

November 19, 2018

Cost Estimate
S. 436, San Juan County Settlement Implementation Act

November 19, 2018

Presentation
Potential Spending on Veterans’ Health Care, 2018–2028

November 19, 2018

Presentation
Labor Force Experiences of Recent Veterans

November 19, 2018

Presentation
The Increasing Costs of the Department of Defense

November 19, 2018

Presentation
Replacing Military Personnel in Some Support Positions With Federal Civilians

November 19, 2018

Presentation
Allocating State and Local Taxes to U.S. Households

November 19, 2018

Presentation
CBO’s 10-Year Budget and Economic Projections

November 19, 2018

Presentation
The Effect of Employer Matching and Defaults on Workers' TSP Savings Behavior

November 19, 2018

Cost Estimate
S. 2679, Veterans Small Business Enhancement Act of 2018

November 16, 2018

Cost Estimate
S. 1995, Spurring Business in Communities Act of 2018

November 16, 201

Cost Estimate
H.R. 6108, Preserving America’s Battlefields Act

November 16, 2018

Presentation
How Taxes Affect the Incentive to Invest in New Intangible Assets

November 16, 2018

Presentation
CBO’s Long-Term Social Security Projections

November 16, 2018

Cost Estimate
H.R. 6891, Anti-Deficiency Reform and Enforcement Act of 2018

November 15, 2018

Cost Estimate
H.R. 6346, WHOLE Act of 2018

November 15, 2018

Cost Estimate
H.R. 6745, ACCESS Rural America Act

November 15, 2018

Cost Estimate
S. 1219, Lake Bistineau Land Title Stability Act

November 15, 2018

Presentation
Inflation and the Phillips Curve

November 15, 2018

Presentation
Transparency at CBO

November 15, 2018

Report
How Taxes Affect the Incentive to Invest in New Intangible Assets

November 15, 2018

Cost Estimate
H.R. 6886, HEARTS Act of 2018

November 14, 2018

Cost Estimate
H.R. 6665, Offshore Wind for Territories Act

November 14, 2018

Cost Estimate
S. 2773, Driftnet Modernization and Bycatch Reduction Act

November 14, 2018

Cost Estimate
S. 1012, New Mexico Drought Preparedness Act of 201

November 14, 2018

Cost Estimate
S. 3561, National Guard and Reserve Entrepreneurship Support Act

November 14, 2018

Plans to Update CBO’s Health Insurance Simulation Model
November 14, 2018

Cost Estimate
H.R. 6351, Advancing U.S. Civil Nuclear Competitiveness and Jobs Act

November 13, 2018

Cost Estimate
H.R. 1567, United States-Mexico Economic Partnership Act

November 13, 2018

Cost Estimate
H.R. 6345, EMPOWERS Act of 2018

November 13, 2018 

Cost Estimate
S. 3405, Protecting and Securing Chemical Facilities from Terrorist Attacks Act of 2018

November 13, 2018

Cost Estimate
S. 2736, Asia Reassurance Initiative Act of 2018

November 13, 2018

Cost Estimate
H.R. 50, Unfunded Mandates Information and Transparency Act of 2017

November 13, 2018

Cost Estimate
H.R. 5273, Global Fragility and Violence Reduction Act of 2018

November 13, 2018

GAO

Defense Health Care:
Additional Assessments Needed to Better Ensure an Efficient Total Workforce
GAO-19-102: Published: Nov 27, 2018. Publicly Released: Nov 27, 2018.

Airline Consumer Protections:
Additional Actions Could Enhance DOT's Compliance and Education Efforts

GAO-19-76: Published: Nov 20, 2018. Publicly Released: Nov 20, 2018.

Federal Workforce:
Opportunities Exist for OPM to Further Innovation in Performance Management

GAO-19-35: Published: Nov 20, 2018. Publicly Released: Nov 20, 2018.

Medicaid Managed Care:
Additional CMS Actions Needed to Help Ensure Data Reliability
GAO-19-10: Published: Oct 19, 2018. Publicly Released: Nov 19, 2018

Navy Readiness:
Actions Needed to Address Costly Maintenance Delays Facing the Attack Submarine Fleet
GAO-19-229: Published: Nov 19, 2018. Publicly Released: Nov 19, 2018.

Federal Personal Property:
GSA and VA Have Opportunities to Improve the Exchange Sale Process
GAO-19-33: Published: Nov 16, 2018. Publicly Released: Nov 16, 2018.

Agent Orange:
Actions Needed to Improve Accuracy and Communication of Information on Testing and Storage Locations
GAO-19-24: Published: Nov 15, 2018. Publicly Released: Nov 15, 2018.

Financial Audit:
Bureau of Consumer Financial Protection's Fiscal Years 2018 and 2017 Financial Statements
GAO-19-184R: Published: Nov 15, 2018. Publicly Released: Nov 15, 2018.

Financial Audit:
Federal Housing Finance Agency's Fiscal Years 2018 and 2017 Financial Statements
GAO-19-183R: Published: Nov 15, 2018. Publicly Released: Nov 15, 2018.

Financial Audit:
Securities and Exchange Commission's Fiscal Years 2018 and 2017 Financial Statements
GAO-19-182R: Published: Nov 15, 2018. Publicly Released: Nov 15, 2018.

Performance and Accountability Report Fiscal Year 2018
GAO-19-1SP: Published: Nov 15, 2018. Publicly Released: Nov 15, 2018.

U.S. Secret Service:
Action Needed to Address Gaps in IT Workforce Planning and Management Practices
GAO-19-60: Published: Nov 15, 2018. Publicly Released: Nov 15, 2018.

VA Disability Exams:
Improved Oversight of Contracted Examiners Needed
GAO-19-213T: Published: Nov 15, 2018. Publicly Released: Nov 15, 2018.

GASB

GASB Proposes New Implementation Guidance to Assist Stakeholders with Application of its Pronouncements  [11/27/18]
Media Advisory
Exposure Draft

IASB

27 November 2018
Issue 17 of the Investor Update published

23 November 2018
Summary of October 2018 IFRS Taxonomy Consultative Group meeting posted

21 November 2018
November IASB podcast now available

21 November 2018
IFRS Foundation Trustees announce appointments to the IFRS Advisory Council from 2019

IRS 

IRS issues proposed regulations on new business interest expense deduction limit
IR-2018-233, November 26, 2018 — The Internal Revenue Service issued proposed regulations today for a provision of the Tax Cuts and Jobs Act, which limits the business interest expense deduction for certain taxpayers.

Get Ready for Taxes: Safekeeping tax records helps for future filing, amended returns, audits
IR-2018-232, November 26, 2018 — With the tax filing season quickly approaching, the Internal Revenue Service wants taxpayers to understand how long to keep tax returns and other documents.

IRS reminds employers, business owners of Jan. 31 filing deadline for wage statements, independent contractor forms
IR-2018-231, November 21, 2018 — The IRS today reminded employers and other businesses that Jan. 31 remains the filing deadline for wage statements and independent contractor forms.

Get Ready for Taxes: Tax reform changes likely to reduce number of taxpayers who itemize
IR-2018-230, November 21, 2018 — The IRS today advised taxpayers that the doubling of the standard deduction due to tax law changes is likely to reduce the number of taxpayers who normally itemize.

Treasury, IRS: Making large gifts now won’t harm estates after 2025
IR-2018-229, November 20, 2018 — Today the IRS announced that individuals taking advantage of the increased gift and estate tax exclusion amounts in effect from 2018 to 2025 will not be adversely impacted after 2025 when the exclusion amount is scheduled to drop to pre-2018 levels.

Security Summit plans National Tax Security Awareness Week, Dec. 3-7; New Twitter handle launched, ‘Dark Web’ webinar planned
IR-2018-228, November 20, 2018 – With the approach of the holidays and the upcoming tax season, the Internal Revenue Service, state tax agencies and the nation’s tax industry will sponsor a nationwide campaign in December urging people to better protect their sensitive tax and financial data.

Like-kind exchanges now limited to real property
IR-2018-227, November 19, 2018 — The Internal Revenue Service today reminded taxpayers that like-kind exchange tax treatment is now generally limited to exchanges of real property.

IRS warns of “Tax Transcript” email scam; dangers to business networks
IR-2018-226, November 19, 2018 — The IRS and Security Summit partners today warned the public of a surge of fraudulent emails impersonating the IRS and using tax transcripts as bait to entice users to open documents containing malware.

Get Ready for Taxes: Get 2018 tax documents ready for upcoming filing season
IR-2018-225, November 19, 2018 — The IRS reminds taxpayers to keep a copy of their past tax returns and supporting documents for at least three years.

IRS: Plan now to use Health Flexible Spending Arrangements in 2019
IR-2018-224, November 16, 2018 — The Internal Revenue Service today reminded eligible employees that now is the time to begin planning to take full advantage of their employer’s health flexible spending arrangement (FSA) during 2019.

New tax law allows small businesses to expense more, expands bonus depreciation
IR-2018-223, November 15, 2018 — The Internal Revenue Service today reminded small business taxpayers that changes to the tax law mean they can immediately expense more of the cost of certain business property.

IRS provides tax inflation adjustments for tax year 2019
IR-2018-222, November 15, 2018 — The Internal Revenue Service today announced the tax year 2019 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes.

IRS Advisory Council releases its 2018 annual report
IR-2018-221, November 15, 2018 — The Internal Revenue Service Advisory Council (IRSAC) today issued its annual report for 2018, including recommendations to the IRS on new and continuing issues in tax administration.

Get Ready for Taxes: For many, time is running out to avoid a tax-time surprise; Check withholding, make estimated payments now
IR-2018-220, November 14, 2018 — Many taxpayers, at risk for having too little tax withheld from their pay, can avoid a surprise year-end tax bill by quickly updating the withholding form they give to their employer, according to the IRS.

IRS Criminal Investigation releases Fiscal Year 2018 Annual Report
IR-2018-219, November 14, 2018 — The Internal Revenue Service today released the Criminal Investigation Division’s (CI) annual report, reflecting significant accomplishments and criminal enforcement actions taken in fiscal year 2018

NYS Dept. of Taxation and Finance

State Encourages New Yorkers to Shop Locally on "Small Business Saturday"

Take Advantage of Black Friday Savings with NYS Sales Tax Exemptions

Tax Preparers Can Register Now for 2019

SEC

Kurt Gottschall Named Director of Denver Office
Washington D.C., Nov. 19, 2018 —The Securities and Exchange Commission today announced that Kurt L. Gottschall has been named Director of the Denver Regional Office.

Two ICO Issuers Settle SEC Registration Charges, Agree to Register Tokens as Securities
Washington D.C., Nov. 16, 2018 —The Securities and Exchange Commission today announced settled charges against two companies that sold digital tokens in initial coin offerings (ICOs).  These are the Commission’s first cases imposing civil penalties solely for ICO securities offering registration violations.  Both companies have agreed to return funds to harmed investors, register the tokens as securities, file periodic reports with the Commission, and pay penalties.

SEC Charges Giga Entertainment Media, Former Officers and Directors With Fraud in Pay-For-Download Campaign
Washington D.C., Nov. 15, 2018 —The Securities and Exchange Commission today charged Giga Entertainment Media Inc. and five of its former officers and directors—Gary Nerlinger, Jarret Streiner, Lawrence Silver, Alfred Colucci, and Charles Noska—with fraud in connection with a scheme to mislead investors.

SEC Brings Additional Charges in New York Boiler Room Scheme Targeting Seniors
Washington D.C., Nov. 15, 2018 —The Securities and Exchange Commission today brought additional charges against a Long Island, New York-based boiler room previously sued for defrauding elderly and unsophisticated investors. The latest charges allege that First Choice Healthcare Solutions Inc. CEO Christian Romandetti, the boiler room, and four others, manipulated the company’s shares generating more than $3.3 million of illegal profits and more than $560,000 in kickbacks for Romandetti.

SEC Settles Insider Trading Claims Against Former Chairman and CEO of Advanced Medical Optics
Washington D.C., Nov. 13, 2018 —The Securities and Exchange Commission today announced that it has agreed to resolve its insider trading claims against James V. Mazzo, the former Chairman and Chief Executive Officer of Advanced Medical Optics, Inc. (AMO) for allegedly tipping information about his company's acquisition to his close personal friend, former professional baseball player Douglas V. DeCinces.