Regulatory Roundup: June 6-12
AICPA
Jun 12 Broad Suite of Learning Resources Tied to Future of Finance Launched at AICPA ENGAGE
Jun 12 AICPA Awards P. Thomas Austin Scholarship to Chris Deblanc
Jun 6 AICPA Recognizes Top CPA Exam Performers in 2017 with Elijah Watt Sells Award
CBO
Working Paper
How Nominal Foreign Currency Depreciation Against the U.S. Dollar Affects U.S. Wealth: Working Paper 2018-05
June 11, 2018
Cost Estimate
S. 2857, National Nordic Museum Act
June 8, 2018
Cost Estimate
S. 2644, Special Counsel Independence and Integrity Act
June 8, 2018
Cost Estimate
S. 1645, Thurgood Marshall’s Elementary School Study Act
June 8, 2018
Cost Estimate
S. 1646, President Street Station Study Act
June 8, 2018
Cost Estimate
H.R. 3186, Every Kid Outdoors Act
June 8, 2018
Cost Estimate
H.R. 4659, a bill to require the appropriate Federal banking agencies to recognize the exposure-reducing nature of client margin for cleared derivatives
June 8, 2018
Cost Estimate
H.R. 2591, Modernizing the Pittman-Robertson Fund for Tomorrow’s Needs Act
June 8, 2018
Cost Estimate
H.R. 5925, CRISIS Act
June 8, 2018
Cost Estimate
H.R. 2319, Consumer Financial Choice and Capital Markets Protection Act of 2017
June 8, 2018
Cost Estimate
H.R. 1689, Private Property Rights Protection Act of 2017
June 8, 2018
Cost Estimate
S. 1573, American Discovery Trail Act
June 8, 2018
Cost Estimate
H.R. 3535, Ruffey Rancheria Restoration Act of 2018
June 8, 2018
Cost Estimate
H.R. 1900, National Veterans Memorial and Museum Act
June 8, 2018
Cost Estimate
S. 2987, John S. McCain National Defense Authorization Act for Fiscal Year 2019
June 8, 2018
Cost Estimate
S. 1459, Fort Sumter and Fort Moultrie National Historical Park Act of 2018
June 8, 2018
Report
The Budgetary Treatment of Cost-Sharing Reductions
June 8, 2018
Presentation
Approaches to Making Infrastructure Spending More Productive
June 7, 2018
Report
Monthly Budget Review for May 2018
June 7, 2018
Presentation
Prices for and Spending on Specialty Drugs in Medicare Part D and Medicaid
June 7, 2018
Cost Estimate
H.R. 3, Spending Cuts to Expired and Unnecessary Programs Act
June 7, 2018
FASB
Eric C. West Appointed to the FASB’s Emerging Issues Task Force [06/06/18]
Media Advisory
GAO
High School Sports:
Many Schools Encouraged Equal Opportunities, but Education Could Further Help Athletics Administrators under Title IX
GAO-18-425:Published: May 10, 2018. Publicly Released: Jun 11, 2018.
Waste Management:
DOD Needs to Fully Assess the Health Risks of Burn Pits
GAO-18-596T:Published: Jun 7, 2018. Publicly Released: Jun 7, 2018.
Navy Shipbuilding:
Past Performance Provides Valuable Lessons for Future Investments
GAO-18-238SP:Published: Jun 6, 2018. Publicly Released: Jun 6, 2018.
Medicaid:
CMS Should Take Steps to Mitigate Program Risks in Managed Care
GAO-18-291:Published: May 7, 2018. Publicly Released: Jun 6, 2018.
IASB
11 June 2018
IFRS Foundation calls for Accounting Standards Advisory Forum member applications
11 June 2018
Preparing the market for IFRS 17
08 June 2018
June 2018 IASB agenda papers and agenda available
08 June 2018
Summary of April 2018 ASAF meeting available
08 June 2018
June 2018 IFRIC meeting papers and agenda available
08 June 2018
IFRS Foundation International Conference: Final countdown to Frankfurt
08 June 2018
Call for members—International Accounting Standards Board
08 June 2018
Join the IFRS Foundation—Accounts Assistant
06 June 2018
April 2018 ITCG meeting summary available
06 June 2018
World Standard-setters conference October 2018
IRS
Interest rates remain the same in the third quarter of 2018
IR-2018-136, June 8, 2018 ―The IRS today announced that interest rates will remain the same for the calendar quarter beginning July 1, 2018, as they were in the quarter that began on April 1.
June 15 tax filing deadline approaches for taxpayers living and working abroad; Check withholding for 2018
IR-2018-135, June 8, 2018 — The IRS today reminded taxpayers living and working out of the country that they must file their 2017 federal income tax return by Friday, June 15.
For new tax on some private colleges, stepped-up basis may apply to property sold at a gain; new basis rule may limit tax impact
IR-2018-134, June 8, 2018 — A private college or university, subject to the new 1.4 percent excise tax on net investment income, that sells property at a gain generally may use the property’s fair market value at the end of 2017 as its basis for figuring the tax on any resulting gain, the IRS said today.
Missed the tax deadline and owe tax? File by June 14 to avoid higher late-filing penalty
IR-2018-133, June 7, 2018 —Taxpayers who owe tax and file their federal income tax return more than 60 days after the deadline will usually face a higher late-filing penalty.
With hurricane season underway, IRS warns of scams related to natural disasters
IR-2018-132, June 7, 2018 ― With hurricane season underway, the Internal Revenue Service is reminding taxpayers that criminals and scammers often try to take advantage of the generosity of taxpayers who want to help victims of major disasters.
NYS Dept. of Taxation and Finance
Array of Online Resources Available to File Sales Tax Returns Accurately and on Time
SEC
SEC Charges Merrill Lynch for Failure to Supervise RMBS Traders
June 12, 2018