Regulatory Roundup - Oct. 12-18
CBO
Cost Estimate
S. 1289, Marine Mammal Research and Response Act of 2021
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on May 12, 2021
Cost Estimate
S. 1319, VA Quality Health Care Accountability and Transparency Act
As ordered reported by the Senate Committee on Veterans’ Affairs on July 28, 2021
Cost Estimate
S. 1927, CAPTA Reauthorization Act of 2021
As ordered reported by the Senate Committee on Health, Education, Labor, and Pensions on June 10, 2021
Cost Estimate
H.R. 4626, VA Assessment by Independent Measures Act
As ordered reported by the House Committee on Veterans’ Affairs on July 28, 2021
Cost Estimate
S. 2792, National Defense Authorization Act for Fiscal Year 2022
As reported by the Senate Committee on Armed Services on September 22, 2021
Cost Estimate
S. 612, Improving Housing Outcomes for Veterans Act of 2021
As ordered reported by the Senate Committee on Veterans’ Affairs on July 28, 2021
Presentation
CBO’s Budget and Economic Analysis During the Pandemic
Presentation by Phillip Swagel, CBO’s Director, at Brown University.
Blog Post
Presentations on CBO’s Budget and Economic Analysis During the Pandemic
CBO’s Director, Phillip Swagel, discusses the agency’s budget and economic analysis during the pandemic.
Cost Estimate
H.R. 4094, One-Stop Pilot Program Act of 2021
As passed by the House of Representatives on September 29, 2021
Cost Estimate
S. 1894, Regional Ocean Partnership Act
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on June 16, 2021
FASB
Financial Accounting Standards Advisory Council
October 18, 2021--The Financial Accounting Standards Adivsory Council (FASCA) held its quarterly meeting on Thursday, September 30, 2021.
Meeting Recap
GAO
Rare Diseases
Although Limited, Available Evidence Suggests Medical and Other Costs Can Be Substantial
GAO-22-104235
Published: Oct 18, 2021.
Publicly Released: Oct 18, 2021.
In the U.S., about 30 million people—half of them children—have a rare disease. Many of these diseases are chronic, worsen over time, and are life-threatening. It can take years of testing and misdiagnoses to get a correct diagnosis; in that time, a patient's health can get worse.
National Weather Service
Reform Efforts Could Benefit from Additional Actions and Continued Attention
GAO-22-105449
Published: Oct 14, 2021.
Publicly Released: Oct 14, 2021.
In 2017, the National Weather Service started an effort to reform the agency and better prepare the U.S. for extreme weather events.
Small Business Contracting
Actions Needed to Implement and Monitor DOD's Small Business Strategy
GAO-22-104621
Published: Oct 14, 2021.
Publicly Released: Oct 14, 2021.
In 2019, Congress directed DOD to develop a strategy to better engage with small businesses and coordinate small business programs across the department. We analyzed trends in DOD contracting. From FY 2011 to 2020, DOD spending on contracts with small businesses increased.
COVID-19 Contracting
Indian Health Service Used Flexibilities to Meet Increased Medical Supply Needs
GAO-22-104745
Published: Oct 14, 2021.
Publicly Released: Oct 14, 2021.
The Indian Health Service provides health care to over 2 million American Indians and Alaska Natives. These groups have been disproportionately vulnerable to negative outcomes from COVID-19.
Small Business Research Programs
Agencies Should Further Improve Award Timeliness
GAO-22-104677
Published: Oct 14, 2021.
Publicly Released: Oct 14, 2021.
Federal agencies participating in the Small Business Innovation Research and Small Business Technology Transfer programs awarded over $3 billion to small businesses in FY 2020 to develop and commercialize new technologies.
Released on Oct. 12, 2021
National Weather Service
Additional Actions Needed to Improve the Agency's Reform Efforts
GAO-21-103792
Published: Sep 29, 2021.
Publicly Released: Oct 12, 2021.
In 2017, the National Weather Service started an effort to reform the agency and better prepare the U.S. for extreme weather events.
IASB
15 Oct 2021
Meeting
International Accounting Standards Board October 2021 meeting papers available
14 Oct 2021
Webcast
Watch an overview of the Exposure Draft Subsidiaries without Public Accountability: Disclosures
14 Oct 2021
Meeting
Due Process Oversight Committee October 2021 meeting papers available
12 Oct 2021
Feature
Article: Business Combinations under Common Control—filling a gap in IFRS Standards
11 Oct 2021
Podcast
October 2021 IFRS Interpretations Committee podcast now available
IRS
IRS joins international organizations in fighting charity fraud during special awareness week
IR-2021-205, October 18, 2021 — The Internal Revenue Service is joining international organizations and other regulators in highlighting Charity Fraud Awareness Week, October 18-22.
IRS extends videoconferencing to large business taxpayers
IR-2021-204, October 18, 2021 — The Internal Revenue Service today announced that beginning October 18, the IRS’s large business division will accept all taxpayer requests to meet with IRS employees using secure videoconferencing.
IRS sets forth required information for a valid research credit claim for refund
IR-2021-203, October 15, 2021 — The IRS has set forth the information that taxpayers will be required to include for a research credit claim for refund to be considered valid.
IRS updates process for frequently asked questions on new tax legislation and addresses reliance concerns
IR-2021-202, October 15, 2021 — Today, the Internal Revenue Service is updating its process for certain frequently asked questions (FAQs) on newly enacted tax legislation.
IRS: Families now receiving October Child Tax Credit payments; still time for eligible families to sign up for advance payments
IR-2021-201, October 15, 2021 — The Internal Revenue Service and the Treasury Department announced today that millions of American families are now receiving their advance Child Tax Credit (CTC) payment for the month of October.
IRS announces 2022 Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program Grants
IR 2021-200, October 12, 2021 — The Internal Revenue Service recently awarded over $41 million in Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grants to organizations that provide free federal tax return preparation.
NYS
Extension of Certain October 15 Deadlines for Taxpayers Affected by Post-Tropical Depression Ida
October 12, 2021
Acting Superintendent of Financial Services Adrienne A. Harris Announces the Return of A Nazi Looted Drawing to the Heirs of Dr. Arthur Feldmann
October 15, 2021
Governor Hochul Proclaims October 2021 as Cyber Security Awareness Month
October 14, 2021
Acting Superintendent Adrienne A. Harris Announces DFS Will Require Continuing Education in Flood Insurance for Insurance Producers as Flood Risk Increases Due to Climate Change
October 13, 2021
The Department of Financial Services and Empire State Development Award $5 Million in Grants to Expand Affordable Banking Services in Underserved Communities
October 7, 2021
SEC
SEC Awards $40 Million to Two Whistleblowers
2021-211 Oct. 15, 2021 — The Securities and Exchange Commission today announced awards of approximately $40 million to two whistleblowers whose information and assistance contributed to the success of an SEC enforcement action.
SEC Reopens Comment Period for Listing Standards for Recovery of Erroneously Awarded Compensation
2021-210 Oct. 14, 2021 — The Securities and Exchange Commission today reopened the comment period on proposed rules for listing standards for the recovery of erroneously awarded compensation.
SEC Modernizes Filing Fee Disclosure and Payment Methods
2021-209 Oct. 13, 2021 — The Securities and Exchange Commission today adopted amendments to modernize filing fee disclosure and payment methods. Operating companies and investment companies (funds) pay filing fees when engaging in certain transactions, including registered securities offerings, tender offers, and mergers and acquisitions.