Regulatory Roundup - Feb. 9-16
AICPA
Press Release
AICPA Now Accepting Applicants to George Willie Scholarship Program
AICPA is now accepting applications to the 2021 George Willie Ethnically Diverse Student Scholarship and Internship Program
February 15, 2021
CBO
Cost Estimate
Reconciliation Recommendations of the House Committee on Education and Labor
February 15, 2021
As ordered reported on February 9, 2021
Cost Estimate
Reconciliation Recommendations of the House Committee on Ways and Means
February 15, 2021
As ordered reported on February 10 and 11, 2021
Cost Estimate
Reconciliation Recommendations of the House Committee on Oversight and Reform
February 15, 2021
As ordered reported on February 12, 202
Report
February 15, 2021
CBO provides information on the breadth of the budgetary effects of the Raise the Wage Act of 2021 compared with certain other reconciliation legislation the agency has analyzed.
Cost Estimate
Reconciliation Recommendations of the House Committee on Energy and Commerce
February 14, 2021
As ordered reported on February 12, 202
Cost Estimate
Reconciliation Recommendations of the House Committee on Agriculture
February 13, 2021
As ordered reported on February 10, 2021
Cost Estimate
Reconciliation Recommendations of the House Committee on Financial Services
February 13, 2021
As ordered reported on February 11, 2021
Cost Estimate
Reconciliation Recommendations of the House Committee on Small Business
February 12, 2021
As ordered reported on February 10, 2021
Cost Estimate
Reconciliation Recommendations of the House Committee on Transportation and Infrastructure
February 12, 2021
As ordered reported on February 10, 2021
Cost Estimate
Reconciliation Recommendations of the House Committee on Veterans’ Affairs
February 12, 2021
As ordered reported on February 11, 2021
Report
The Budget and Economic Outlook: 2021 to 2031
February 11, 2021
If current laws governing taxes and spending generally remain unchanged, CBO projects, in 2021, the federal budget deficit will total $2.3 trillion, federal debt will reach 102 percent of GDP, and real GDP will grow by 3.7 percent.
Report
National Cruise Missile Defense: Issues and Alternatives
February 9, 2021
CBO examined the threat that adversaries equipped with land-attack cruise missiles might pose to the U.S. homeland and estimated the costs of several defensive systems that could be fielded to protect the United States from such attacks.
Report
Monthly Budget Review: January 2021
The federal budget deficit was $738 billion in the first four months of fiscal year 2021, CBO estimates—$348 billion more than the deficit recorded during the same period last year.
FAF
Statement of Kathleen Casey, Chair of Financial Accounting Foundation, Concerning FAF Trustee David Villa [02/16/21]
FAF Statement
Financial Accounting Foundation Board of Trustees [02/09/21]
Meeting Notice
FASB
FASB, IASB, and The Accounting Review Seek Academic Research Papers for Joint 2022 “Accounting for an Ever-Changing World” Conference [02/10/21]
News Release
Financial Accounting Foundation Board of Trustees [02/09/21]
Notice of Meeting
FASB Announces New Investor Education Video on Convertible Instruments [02/09/21]
Media Advisory
Video
GAO
Immigration Detention:
Actions Needed to Improve Planning, Documentation, and Oversight of Detention Facility Contracts
GAO-21-149: Published: Jan 13, 2021. Publicly Released: Feb 12, 2021.
Electronic Health Records:
GAO-21-224: Published: Feb 11, 2021. Publicly Released: Feb 11, 2021.
Operation Warp Speed:
Accelerated COVID-19 Vaccine Development Status and Efforts to Address Manufacturing Challenges
GAO-21-319: Published: Feb 11, 2021. Publicly Released: Feb 11, 2021.
Freedom of Information Act:
Update on Federal Agencies' Use of Exemption Statutes
GAO-21-148: Published: Jan 12, 2021. Publicly Released: Feb 11, 2021.
Sexual Harassment and Assault:
Guidance Needed to Ensure Consistent Tracking, Response, and Training for DOD Civilians
GAO-21-113: Published: Feb 9, 2021. Publicly Released: Feb 9, 2021.
IASB
February 2021 ITCG meeting summary available
Webinar: Explaining the Exposure Draft Regulatory Assets and Regulatory Liabilities
February 2021 IFRS Advisory Council agenda and agenda papers available
Call for academic research to inform the IASB’s post-implementation reviews of IFRS Standards
February 2021 IFRIC Update available
IASB proposes to extend support for lessees accounting for covid-19-related rent concessions
IASB, FASB and The Accounting Review seek academic research papers for joint 2022 conference
Recording of a virtual workshop on Discussion Paper Business Combinations under Common Control
Webinar recording now available: how can academics inform post-implementation reviews of IFRS 15?
IRS
Register now for free Feb. 18 IRS webinar on how to choose a tax professional
IR-2021-37, February 12, 2021 — The Internal Revenue Service will hold a free webinar, “How to Choose a Tax Pro,” on Thursday, February 18 at 2 p.m. Eastern time.
Get ready for tax season using IRS Online Account
IR-2021-36, February 11, 2021 — The Internal Revenue Service today reminded taxpayers they can securely access their IRS account information through their individual online account.
IR-2021-35, February 11, 2021 — With filing season opening on February 12, the Internal Revenue Service urged taxpayers to take some simple steps to help ensure they file accurate tax returns and speed their tax refunds to avoid a variety of pandemic-related issues.
IRS, Summit partners issue urgent EFIN scam alert to tax professionals
IR-2021-34, February 10, 2021 — The IRS, state tax agencies and tax industry today warned tax professionals of a new scam email that impersonates the IRS and attempts to steal Electronic Filing Identification Numbers (EFINs).
Double-check for missing or incorrect Forms W-2, 1099 before filing taxes
IR-2021-33, February 9, 2021 — With some areas seeing mail delays, the Internal Revenue Service reminds taxpayers to double-check to make sure they have all of their tax documents, including Forms W-2 and 1099, before filing a tax return.
IRS names Sieger to permanent position of CIO
IR-2021-32, February 9, 2021 — The Internal Revenue Service announced today that Nancy Sieger has been selected as the Chief Information Officer. She has served as acting CIO since June 2019.
New IRS form available for self-employed individuals to claim COVID-19 sick and family leave tax credits under FFCRA
NYS
Department of Financial Services Announces Cybersecurity Fraud Alert
February 16, 2021
Governor Cuomo Announces New Actions to Expand Access to Fertility Coverage for Same Sex Couples as Part of 2021 Women's Agenda
February 11, 2021
Consumer Alert: New York State Division of Consumer Protection and the New York Department of Financial Services Alert Consumers About Two New Laws That Provide Consumer Protections on Recurring Services, and on Account Inactivity Fees
February 9, 2021
DFS Alerts Regulated Entities of Opportunity to Receive Credit Under the NY CRA for Activities Undertaken to Address Climate Change that Benefit Low- To Moderate-Income Communities
February 9, 2021
SEC
SEC Suspends Trading in Inactive Issuer Touted on Social Media
2021-28, Feb. 11, 2021 — The Securities and Exchange Commission today suspended trading in an inactive company amid questions surrounding online promotion of the company’s securities and recent trading activity.