AICPA

AICPA Makes Recommendations for Digital Asset Transactions Regulations
Mar 11, 2024

Media comment on UK Spring Budget
Mar 6, 2024

CBO

Cost Estimate
H.R. 6602, a bill to amend the Export Control Reform Act of 2018 relating to the review of the interagency dispute resolution process
March 11, 2024
As ordered reported by the House Committee on Foreign Affairs on December 13, 2023

Report
Answers to Questions for the Record Following a Hearing on the Oversight of CBO
March 8, 2024
The House Committee on the Budget convened a hearing at which Phillip L. Swagel, CBO's Director, testified about the work of CBO. This document provides CBO’s answers to questions submitted for the record.

Cost Estimate
H.R. 7324, a bill to make improvements in the enactment of title 41, United States Code, into a positive law title and to improve the Code
March 8, 2024
As ordered reported by the House Committee on the Judiciary on February 15, 2024

Report
Monthly Budget Review: February 2024
March 8, 2024
The federal budget deficit totaled $830 billion in the first five months of fiscal year 2024, CBO estimates. That amount is $108 billion more than the deficit recorded during the same period last fiscal year.

Cost Estimate
S. 2367, CHECKPOINT Act
March 7, 2024
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on January 31, 2024

Presentation
CBO’s Approach to Estimating the Budgetary Effects of the No Surprises Act of 2021
March 7, 2024
Presentation by Daria Pelech, an analyst in CBO’s Health Analysis Division, at the Center for Health Insurance Reform McCourt School of Public Policy, Georgetown University.

Cost Estimate
H.R. 1829, a bill to require the Secretary of Agriculture to convey the Pleasant Valley Ranger District Administrative Site to Gila County, Arizona
March 7, 2024
As ordered reported by the House Committee on Natural Resources on February 6, 2024

Cost Estimate
H.R. 2925, Mining Regulatory Clarity Act of 2023
March 7, 2024
As ordered reported by the House Committee on Natural Resources on February 6, 2024

Cost Estimate
H.R. 5798, Protecting Our Nation’s Capital Emergency Act of 2024
March 7, 2024
As ordered reported by the House Committee on Oversight and Accountability on February 6, 2024

Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of March 11, 2024
March 7, 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.

Cost Estimate
S. 2216, Montana Sportsmen Conservation Act
March 7, 2024
As reported by the Senate Committee on Energy and Natural Resources on January 9, 2024

Report
The Role of Federal Home Loan Banks in the Financial System
March 7, 2024
CBO describes the role of Federal Home Loan Banks (a government-sponsored enterprise) in financial markets, their financial condition, the value of the federal subsidies they receive, and the risks they pose.

Cost Estimate
H.R. 6316, a bill to amend title 40, United States Code, to establish an expiration date of certain committee resolutions with respect to leases or projects, and for other purposes
March 6, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on November 15, 2023

Report
How the Military’s Basic Allowance for Housing Compares With Civilian Housing Costs
March 6, 2024
CBO compares the housing standards used to determine the military’s basic allowance for housing (BAH) with the housing rented by comparable civilians. CBO also compares BAH rates with the rental costs paid by those civilians.

Cost Estimate
S. 3648, HELP Response and Recovery Act
March 6, 2024
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on January 31, 2024

Blog Post
CBO Releases Infographics About the Federal Budget in Fiscal Year 2023
March 5, 2024
View CBO’s budget infographics to see how much the federal government spent and took in during fiscal year 2023, as well as broader trends in the budget over the past few decades.

Cost Estimate
Consolidated Appropriations Act, 2024
March 5, 2024
As posted on the Document Repository of the House of Representatives on March 3, 2024
https://tinyurl.com/32a6eva4

Graphic
Discretionary Spending in Fiscal Year 2023: An Infographic
March 5, 2024
Discretionary outlays by the federal government totaled $1.7 trillion in 2023. Outlays for nondefense programs accounted for more than half of that total.

Cost Estimate
H. Con. Res. 83, a concurrent resolution authorizing the use of the Capitol Grounds for the National Peace Officers Memorial Service and the National Honor Guard and Pipe Band Exhibition
March 5, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on February 29, 2024

Cost Estimate
H.R. 6278, MOVE Act of 2023
March 5, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on December 6, 2023

Cost Estimate
H.R. 6421, Affordable HOMES Act
March 5, 2024
As ordered reported by the House Committee on Energy and Commerce on December 5, 2023

Cost Estimate
H.R. 7511, Laken Riley Act
March 5, 2024
As posted on the website of the House Committee on Rules on March 4, 2024

Graphic
Mandatory Spending in Fiscal Year 2023: An Infographic
March 5, 2024
Mandatory outlays by the federal government government totaled $3.8 trillion in 2023; more than half was for Social Security and Medicare. The largest increases over the past 20 years have been for the major health care programs.

Graphic
Revenues in Fiscal Year 2023: An Infographic
March 5, 2024
Revenues received by the federal government in 2023 totaled $4.4 trillion, of which half was receipts from individual income taxes.

Graphic
The Federal Budget in Fiscal Year 2023: An Infographic
March 5, 2024
The federal deficit in 2023 was $1.7 trillion, equal to 6.3 percent of gross domestic product.

GAO

Anti-Money Laundering:
Better Information Needed on Effectiveness of Federal Efforts
GAO-24-106301
Published: Feb 8, 2024 . Publicly Released: Mar 11, 2024
The Anti-Money Laundering Act of 2020 aims to modernize how federal agencies combat money laundering and other financial crimes. The Financial Crimes Enforcement Network is responsible for implementing many of the Act's requirements—like assessing how new technologies can help detect such crimes. But FinCEN has yet to provide a full update to Congress and the public on its progress meeting these requirements. Also, the government...

Science & Tech Spotlight:
Combating Deepfakes
GAO-24-107292
Published: Mar 11, 2024
Publicly Released: Mar 11, 2024
Deepfakes are videos, audio, or images that seem real but have been manipulated with AI. They've been used to try to influence elections and to create non-consensual pornography. Researchers are developing new ways to detect deepfakes, such as AI models that spot color abnormalities. And authentication methods, like digital watermarks, can help prove that a video or image has been altered. But simply detecting deepfakes...

DHS Annual Assessment:
Most Programs Are Meeting Current Goals, but Some Continue to Face Cost and Schedule Challenges [Reissued with revisions on Mar. 7, 2024]
GAO-24-106573
Published: Feb 22, 2024
Publicly Released: Mar 7, 2024
This is our 9th annual assessment of the Department of Homeland Security's major acquisition programs. We reviewed 16 programs with DHS-approved baselines—which establish goals for how the system being acquired should perform, when it should be delivered, and what it should cost. Fifteen of these programs met their cost and schedule goals, but most of these programs have updated their goals at least once since...

Cybersecurity:
Improvements Needed in Addressing Risks to Operational Technology
GAO-24-106576
Published: Mar 7, 2024
Publicly Released: Mar 7, 2024
Operational technology systems control processes or production, and are often used in critical infrastructure—e.g., a system of sensors, controllers, and actuators that open and close the valves in oil pipelines. Cyberattacks pose a significant threat to these systems. The Cybersecurity and Infrastructure Security Agency provides technical assistance to help critical infrastructure owners and operators address those cyber risks. But owners and operators had some challenges...

Facial Recognition Technology:
Federal Law Enforcement Agency Efforts Related to Civil Rights and Training
GAO-24-107372
Published: Mar 8, 2024
Publicly Released: Mar 7, 2024
We testified about our prior work on federal law enforcement's use of facial recognition technology. In 2023, we reviewed 7 agencies in the Departments of Homeland Security and Justice that had reported using the technology to support criminal investigations. All 7 agencies initially used facial recognition services without requiring staff to take related training. Two agencies required it as of April 2023. Also, we reported...

Defense Contracting:
DOD Should Encourage Greater Use of Existing Expertise to Review Indemnification Requests
GAO-24-106403
Published: Mar 7, 2024
Publicly Released: Mar 7, 2024
The unusually risky work that DOD's contractors sometimes do—e.g., building hypersonic weapons—may not be covered by insurance. As such, contractors rely on government indemnification to shield them from financial liability if there's a catastrophic incident. Recently however, DOD has had challenges negotiating contractor requests for indemnification. We found indemnification requests are rare and mostly approved. DOD has an insurance review team to help evaluate requests...

Commercial Aviation Manufacturing:
Supply Chain Challenges and Actions to Address Them
GAO-24-106493
Published: Mar 6, 2024
Publicly Released: Mar 6, 2024
Air travel has rebounded since 2020, increasing airlines' demand for new aircraft and parts for current fleets. Boeing and Airbus—and companies that supply them with parts and materials—have faced challenges increasing production to meet demand. Aviation manufacturers reported shortages of workforce and materials. Some said they were offering financial incentives working with local schools to build interest in aviation careers increasing oversight of suppliers adding...

Coast Guard:
Action Needed to Evaluate Efforts to Address Sexual Assault and Harassment
GAO-24-107388
Published: Mar 6, 2024
Publicly Released: Mar 6, 2024
Investigations and reports have shown sexual assault and harassment to be persistent problems in the Coast Guard for decades. We testified that the Coast Guard has taken action on this over time—including reviewing its policies, practices, and culture, and reporting on areas that could be improved. In November 2023, the agency started work on new efforts to address these issues. For example, it is updating...

Small Business Administration:
Progress and Work Remaining to Implement Key Management Improvements
GAO-24-107395
Published: Mar 6, 2024
Publicly Released: Mar 6, 2024  
The Small Business Administration set up programs to help with the COVID-19 pandemic, including the Paycheck Protection Program. We testified about 23 recommendations we've made to improve this and other SBA programs. SBA has addressed 10 of our recommendations. For example, we recommended that it conduct a formal fraud risk assessment and develop a strategy to manage risks, and SBA has done so. However, SBA...

Bank Supervision:
More Timely Escalation of Supervisory Action Needed
GAO-24-106974
Published: Mar 6, 2024
Publicly Released: Mar 6, 2024
The Silicon Valley Bank and Signature Bank failures in 2023 raised questions about federal bank supervision. This Q&A report shows that the Federal Reserve and the Federal Deposit Insurance Corporation identified numerous concerns at the banks as early as 2018, but did not issue enforcement actions, which would have required the banks to fix the problems. The Federal Reserve's procedures for moving from a lower-level...

Human Capital:
Characteristics and Administration of the Federal Wage System
GAO-24-106657
Published: Mar 5, 2024
Publicly Released: Mar 5, 2024  
In this report, we review the administration of the Federal Wage System—the government's pay system for trade, craft, and labor hourly employees. And we examine characteristics of the system, such as which occupations and geographic areas are covered under it. The FWS was originally intended to set these employees' pay rates in line with local market rates. However, subsequent congressional actions have linked FWS pay...

IASB

March 2024 International Accounting Standards Board meeting agenda and papers now available
Meeting
8 March 2024

March 2024 International Sustainability Standards Board agenda and meeting paper now available
Meeting
6 March 2024

March 2024 Transition Implementation Group on IFRS S1 and IFRS S2 agenda and meeting papers now available
6 March 2024

IRS

IRS granting dyed diesel penalty relief as a result of Texas wildfires
IR-2024-67, March 7, 2024 — The Internal Revenue Service, in response to disruptions to the supply of fuel for diesel powered highway vehicles resulting from wildfires, will not impose a penalty when dyed diesel fuel with a sulfur content that does not exceed 15 parts-per-million is sold for use or used by diesel-powered vehicles on the highway in certain counties in Texas.

IRS continues special Saturday hours on March 16 for face-to-face help at 70 Taxpayer Assistance Centers
IR-2024-66, March 7, 2024 — The Internal Revenue Service will open 70 Taxpayer Assistance Centers (TACs) on Saturday, March 16, from 9 a.m. to 4 p.m., to provide in-person help across the nation.

IRS alert: Beware of companies misrepresenting nutrition, wellness and general health expenses as medical care for FSAs, HSAs, HRAs and MSAs
IR-2024-65, March 6, 2024 — Amid concerns about people being misled, the Internal Revenue Service today reminded taxpayers and heath spending plan administrators that personal expenses for general health and wellness are not considered medical expenses under the tax law.

Margie Rollinson begins work as 49th IRS Chief Counsel; first woman to permanently hold position
IR-2024-64, March 6, 2024 — Margie Rollinson took the oath of office today to become the 49th IRS Chief Counsel and the first woman to permanently hold the top legal position at the nation’s tax agency.

Tax Time Guide: Taxpayers should report digital asset transactions, gig economy income, foreign source income and assets
IR-2024-63, March 6, 2024 — The Internal Revenue Service reminds taxpayers they’re generally required to report all earned income on their tax return, including income earned from digital asset transactions, the gig economy and service industry as well as income from foreign sources.

Treasury, IRS issue guidance for the elective payment of advanced manufacturing investment credit
IR-2024-62, March 5, 2024 — The Internal Revenue Service (IRS) today issued final regulations that provide guidance for the entities choosing the elective payment for the advanced manufacturing investment credit, established by the CHIPS Act of 2022.

Treasury, IRS finalize rules on elective payments of certain clean energy credits under the Inflation Reduction Act
IR-2024-61, March 5, 2024 — The Department of the Treasury and Internal Revenue Service issued final regulations today for applicable entities that earn certain clean energy credits and choose to make an elective payment election.

Time is running out: IRS encourages eligible non-filers in 2020 to claim their Recovery Rebate Credit before May 17 deadline
IR-2024-60, March 4, 2024 — The Internal Revenue Service today reminded those who may be entitled to the COVID-era Recovery Rebate Credit in 2020 that time is running out to file a tax return and claim their money.

Registration opens for 2024 IRS Nationwide Tax Forum; five cities to host special sessions this summer
IR-2024-59, March 4, 2024 — The Internal Revenue Service announced today that registration for the agency’s 2024 Nationwide Tax Forum is now open, providing tax professionals the opportunity to attend special continuing education sessions this summer in five cities across the nation.

NYC

Department of Finance Fiscal 2025 Preliminary Budget Hearing Testimony
March 4, 2024

NYS

Have you heard about the Direct File pilot program?
March 06, 2024

NYS Tax Department Offers Free Tax Filing Help in Buffalo Area for Eligible Taxpayers
March 04, 2024

PCAOB

PCAOB Sanctions Gries & Associates for Deficient Audit Work That Preceded Multiple Financial Restatements
Mar. 5, 2024

PCAOB Announces Panelists for March 6 Virtual Roundtable on NOCLAR Proposal
Mar. 4, 2024

SEC

SEC Adopts Rules to Enhance and Standardize Climate-Related Disclosures for Investors
2024-31
Washington D.C., March 6, 2024 — The Securities and Exchange Commission today adopted rules to enhance and standardize climate-related disclosures by public companies and in public offerings. The final rules reflect the Commission’s efforts to respond to investors’ demand for more consistent, comparable, and reliable information about the financial effects of climate-related risks on a registrant’s operations and how it manages those risks while balancing concerns about mitigating the associated costs of the rules.

SEC Adopts Amendments to Enhance Disclosure of Order Execution Information
2024-32
Washington D.C., March 6, 2024 — The Securities and Exchange Commission today adopted rule amendments that update the disclosure required under Rule 605 of Regulation NMS for order executions in national market system stocks (NMS stocks), which are stocks listed on a national securities exchange. Rule 605 was adopted in 2000 to help the public compare and evaluate execution quality at different market centers.

SEC Adopts Rules to Enhance and Standardize Climate-Related Disclosures for Investors
2024-31
Washington D.C., March 6, 2024 — The Securities and Exchange Commission today adopted rules to enhance and standardize climate-related disclosures by public companies and in public offerings. The final rules reflect the Commission’s efforts to respond to investors’ demand for more consistent, comparable, and reliable information about the financial effects of climate-related risks on a registrant’s operations and how it manages those risks while balancing concerns about mitigating the associated costs of the rules.

TIGTA

Fiscal Year 2024 Review of Assessment Statute Extension Dates  
March 7, 2024

Additional Actions Are Needed to Improve Controls Over Manual Refund Processing  
March 7, 2024