AICPA

Current PFP News
January 12, 2022

CBO

Report
Expired and Expiring Authorizations of Appropriations for Fiscal Year 2022—Information for Legislation Enacted Through September 30, 2021
January 14, 2022
CBO reports annually on programs whose authorizations of appropriations have already expired or will expire. This information covers legislation enacted through September 30, 2021. A full report will be issued later this year.

Cost Estimate
H.R. 5682, CBP Donations Acceptance Program Reauthorization Act
January 14, 2022
As ordered reported by the House Committee on Homeland Security on October 26, 2021

Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of January 17, 2022
January 14, 2022
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. 2989, DHS Blue Campaign Enhancement Act
January 14, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on November 3, 2021

Presentation
CBO’s Model of New Drug Development
January 13, 2022
Presentation by Chris Adams, an analyst in CBO’s Health Analysis Division, to the Dartmouth Institute for Health Policy & Clinical Practice.

Presentation
Navy Shipbuilding: Congressional Perspectives and the Navy’s 2022 Plan
January 13, 2022
Presentation by Eric J. Labs, an analyst in CBO’s National Security Division, at the Surface Navy Association’s 34th National Symposium.

Cost Estimate
S. 1388, Prescription Pricing for the People Act of 2021
January 13, 2022
As ordered reported by the Senate Committee on the Judiciary on July 29, 2021

Cost Estimate
S. 3035, GOOD AI Act of 2021
January 13, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on November 3, 2021

Report
Ginnie Mae and the Securitization of Federally Guaranteed Mortgages
January 12, 2022
CBO describes the securitization programs of the Government National Mortgage Association (Ginnie Mae) and compares its baseline budget projections for Ginnie Mae with outcomes under a scenario of severe economic stress.

Cost Estimate
H.R. 4032, Open RAN Outreach Act
January 12, 2022
As passed by the House of Representatives on October 20, 2021

Cost Estimate
H.R. 5607, Justice for ALS Veterans Act of 2021
January 12, 2022
As ordered reported by the House Committee on Veterans’ Affairs on November 4, 2021

Cost Estimate
H.R. 935, Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2021
January 12, 2022
As ordered reported by the House Committee on Financial Services on July 29, 2021

Cost Estimate
H.R. 187, Immigration-Relief Legislation
January 11, 2022
As ordered reported by the House Committee on the Judiciary on September 29, 2021

Cost Estimate
H.R. 2516, Promoting Diversity and Inclusion in Banking Act of 2021
January 11, 2022
As ordered reported by the House Committee on Financial Services on April 21, 2021

Cost Estimate
H.R. 4046, NTIA Policy and Cybersecurity Coordination Act
January 11, 2022
As ordered reported by the House Committee on Energy and Commerce on July 21, 2021

Cost Estimate
H.R. 4599, SUPER Act of 2021
January 11, 2022
As ordered reported by the House Committee on Science, Space, and Technology on July 27, 2021

Cost Estimate
H.R. 5681, Shadow Wolves Enhancement Act
January 11, 2022
As ordered reported by the House Committee on Homeland Security on October 26, 2021

Cost Estimate
H.R. 680, Immigration-Relief Legislation
January 11, 2022
As ordered reported by the House Committee on the Judiciary on September 29, 2021

Cost Estimate
H.R. 681, Immigration-Relief Legislation
January 11, 2022
As ordered reported by the House Committee on the Judiciary on September 29, 2021

Cost Estimate
H.R. 739, Immigration-Relief Legislation
January 11, 2022
As ordered reported by the House Committee on the Judiciary on September 29, 2021

Cost Estimate
H.R. 785, Immigration-Relief Legislation
January 11, 2022
As ordered reported by the House Committee on the Judiciary on September 29, 2021

Report
Long-Term Costs of the Administration’s 2022 Defense Budget
January 11, 2022
CBO analyzes DoD’s plans for 2022 as presented in the Biden Administration’s 2022 budget request and projects how those plans would affect defense costs through 2031. Those costs would increase by 10 percent over that period, CBO projects.

Cost Estimate
S. 2491, Defense of United States Infrastructure Act of 2021
January 11, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on November 3, 2021

Cost Estimate
S. 2559, Deepfake Task Force Act
January 11, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on August 4, 2021

Cost Estimate
S. 3436, Protecting Europe’s Energy Security Implementation Act
January 11, 2022
As introduced in the Senate on December 18, 2021

GAO

Disaster Recovery
School Districts in Socially Vulnerable Communities Faced Heightened Challenges after Recent Natural Disasters
GAO-22-104606
Published: Jan 18, 2022.
Publicly Released: Jan 18, 2022.
Natural disasters can be devastating for K-12 schools—especially in areas where people were already vulnerable. Most school districts that received key federal recovery grants in the wake of 2017-2019 disasters had higher than average proportions of students from socially vulnerable groups

FDA Workforce
Agency-Wide Workforce Planning Needed to Ensure Medical Product Staff Meet Current and Future Needs
GAO-22-104791
Published: Jan 14, 2022.
Publicly Released: Jan 14, 2022.
The Food and Drug Administration relies on qualified scientific and technical staff—like chemists, pharmacists, and physicians—to ensure that medical products are safe and effective.

Housing Finance System
Future Reforms Should Consider Past Plans and Vulnerabilities Highlighted by Pandemic
GAO-22-104284
Published: Jan 13, 2022.
Publicly Released: Jan 13, 2022.
In 2019, the Departments of the Treasury and Housing and Urban Development issued plans to reform the housing finance system. The system has been on our High Risk list since 2013.

Cybersecurity
Federal Response to SolarWinds and Microsoft Exchange Incidents
GAO-22-104746
Published: Jan 13, 2022.
Publicly Released: Jan 13, 2022.
This report describes the federal response to 2 high-profile cybersecurity incidents that affected the U.S. government. The Russian Foreign Intelligence Service hacked SolarWinds network management software, which is widely used in the U.S. government.

Pipeline Safety
Operators of Natural Gas and Hazardous Liquid Gathering Lines Face Data Collection Challenges
GAO-22-104817
Published: Jan 13, 2022.
Publicly Released: Jan 13, 2022.
"Gathering pipelines" carry natural gas or hazardous liquid from wells to other pipelines or facilities. The Department of Transportation recently started collecting data on all of these pipelines—such as size and construction material—to better understand safety risks.

Veterans Community Care Program
VA Should Strengthen Its Ability to Identify Ineligible Health Care Providers
GAO-22-103850
Published: Dec 17, 2021.
Publicly Released: Jan 13, 2022.
The VA allows eligible veterans to receive care from community providers when they face challenges accessing care at VA medical facilities. The VA is still responsible for ensuring that these community providers are qualified and competent.

VA Mental Health Care
Improvements Needed in Tracking and Overseeing Partnerships with Nongovernmental Entities
GAO-22-104674
Published: Jan 13, 2022.
Publicly Released: Jan 13, 2022.
The Department of Veterans Affairs partners with nongovernmental groups, like non-profits or universities, through formal agreements aimed at making veterans aware of available suicide prevention programs and mental health services.

Privacy
Federal Financial Regulators Should Take Additional Actions to Enhance Their Protection of Personal Information
GAO-22-104551
Published: Jan 13, 2022.
Publicly Released: Jan 13, 2022.
Federal financial regulatory agencies collect and maintain a large amount of consumers' personally identifiable information (PII) for the oversight of banks and credit unions. Protecting PII—which is often shared with other agencies, law enforcement, and contractors—is critical.

Coast Guard
Assessment of a Risk-Based Approach for Conducting Gas Carrier Exams is Needed
GAO-22-105432
Published: Jan 12, 2022.
Publicly Released: Jan 12, 2022.
Ships that transport liquefied natural gas and other highly combustible gases could pose safety and environmental risks. The U.S. Coast Guard is required to conduct compliance exams for these gas carriers annually, but a shortage of about 400 marine inspectors sometimes leads to exam delays.

Coast Guard
Enhancements Needed to Strengthen Marine Inspection Workforce Planning Efforts
GAO-22-104465
Published: Jan 12, 2022.
Publicly Released: Jan 12, 2022.
Marine inspections help the Coast Guard ensure that ships are following safety, security, and environmental laws.

Immigration
Information on Deferred Action for Childhood Arrivals
GAO-22-104734
Published: Jan 12, 2022.
Publicly Released: Jan 12, 2022.
Under the Deferred Action for Childhood Arrivals (DACA) program, U.S. Citizenship and Immigration Services can provide temporary protection from removal for certain noncitizens who came to the United States before age 16.

Firearms Trafficking
More Information is Needed to Inform U.S. Efforts in Central America
GAO-22-104680
Published: Jan 11, 2022.
Publicly Released: Jan 11, 2022.
Gangs and drug cartels commit much of the violence in Belize, El Salvador, Guatemala, and Honduras. The guns they use are mostly from other countries, including the U.S. While reducing violence in the region is a U.S.

Cybersecurity
Preliminary Results Show That Agencies' Implementation of FISMA Requirements Was Inconsistent
GAO-22-105637
Published: Jan 11, 2022.
Publicly Released: Jan 11, 2022.
A 2014 law requires federal agencies to have information security programs.

IASB

November 2021 IFRS Taxonomy Consultative Group meeting summary available
17 January 2022
MEETING

January 2022 International Accounting Standards Board meeting papers available
14 January 2022
MEETING

Join the Staff—IASB Assistant Technical Staff
13 January 2022
CAREERS

January 2022 SME Implementation Group meeting papers available
12 January 2022
MEETING

Call for members to join the Capital Markets Advisory Committee from 2023\
11 January 2022
APPOINTMENT

IRS

IRS Free File available today; filers can claim important tax benefits
IR-2022-14, January 14, 2022 — The IRS today announced the availability of Free File, providing taxpayers online tax preparation products available at no charge.

IRS issues Frequently Asked Questions and Answers for 2021 Recovery Rebate Credit
IR-2022-13, January 13, 2022 — The Internal Revenue Service today issued frequently asked questions (FAQs) for the 2021 Recovery Rebate Credit. 

Get ready for taxes: Bookmark IRS.gov resources and online tools to use before, during and after filing 
IR-2022-12, January 13, 2022 – The Internal Revenue Service today encouraged taxpayers to use IRS online tools and resources to find the information they need to be ready to file their 2021 federal tax returns, including important special steps related to Economic Impact Payments and advance Child Tax Credit payments.

National Taxpayer Advocate delivers Annual Report to Congress; focuses on taxpayer impact of processing and refund delays
IR-2022-11, January 12, 2022 — National Taxpayer Advocate Erin M. Collins today released her 2021 Annual Report to Congress, calling calendar year 2021 “the most challenging year taxpayers and tax professionals have ever experienced.” 

IRS updates FAQs for 2021 Child Tax Credit and Advance Child Tax Credit Payments
IR-2022-10, January 11, 2022 — The Internal Revenue Service today updated frequently asked questions (FAQs) for the 2021 Child Tax Credit and Advance Child Tax Credit to help eligible families properly claim the credit when they prepare and file their 2021 tax return.

IRS selects new IRSAC members for 2022
IR-2022-09, January 10, 2022 — The Internal Revenue Service today announced the appointment of nine new members to the Internal Revenue Service Advisory Council (IRSAC).

NYS

NY State of Health and New York State Department of Financial Services Announce Extension of Open Enrollment Period as Federal Public Health Emergency Continues
January 14, 2022

Acting DFS Superintendent Adrienne A. Harris Announces Columbian Mutual Life Insurance Company to Settle for More Than $10 Million for Failing to Pay Unclaimed Life Insurance Proceeds to Thousands of Beneficiaries
January 11. 2022