AICPA

Press Release
AICPA Urges Swift Passage of Renewed Paycheck Protection Program Funding
The AICPA today urged swift passage of legislation to extend and expand the Paycheck Protection Program (PPP), which provides critical relief for small businesses impacted by the Covid-19 pandemic.
September 17, 2020

Press Release
AICPA Comments on Proposed International Changes to Form 1065 and Schedules K-2, K-3
AICPA submitted recommendations to Treasury and the IRS on proposed international changes to Form 1065, Schedule K-2 and Schedule K-3 forms.
September 16, 2020

Press Release
Five CPAs Awarded With The William (Bill) Ezzell Scholarships to Pursue Doctoral Degrees
AICPA granted William (Bill) Ezzell Scholarships to help fund their pursuit of an accounting Ph.D.
September 15, 2020

CBO

Cost Estimate
H.R. 3010, Honoring All Veterans Act
September 18, 2020
As ordered reported by the House Committee on Veterans’ Affairs on July 30, 2020

Report
The Effects of Pandemic-Related Legislation on Output
September 18, 2020
By providing financial support to households, businesses, and state and local governments, federal laws enacted in response to the 2020 coronavirus pandemic will offset part of the deterioration in economic conditions brought about by the pandemic.

Cost Estimate
H.R. 5586, Haiti Development, Accountability, and Institutional Transparency Initiative Act
September 15, 2020
As ordered reported by the House Committee on Foreign Affairs on July 29, 2020

Cost Estimate
S. 2981, National Oceanic and Atmospheric Administration Commissioned Officer Corps Amendments Act of 2019
September 15, 2020
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on December 11, 2019

Cost Estimate
S. 3891, Advancing Artificial Intelligence Research Act of 2020
September 15, 2020
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on July 22, 2020

Cost Estimate
H.R. 2246, a bill to designate the facility of the United States Postal Service located at 201 West Cherokee Street in Brookhaven, Mississippi, as the "Deputy Donald William Durr, Corporal Zach Moak, and Patrolman James White Memorial Post Office Buildi
September 14, 2020
As ordered reported by the House Committee on Oversight and Reform on December 19, 2019

Cost Estimate
H.R. 2969, a bill to designate the facility of the United States Postal Service located at 1401 1st Street North in Winter Haven, Florida, as the "Althea Margaret Daily Mills Post Office Building"
September 14, 2020
As ordered reported by the House Committee on Oversight and Reform on December 19, 2019

Cost Estimate
H.R. 3275, a bill to designate the facility of the United States Postal Service located at 340 Wetmore Avenue in Grand River, Ohio, as the "Lance Corporal Andy 'Ace' Nowacki Post Office"
September 14, 2020
As ordered reported by the House Committee on Oversight and Reform on December 19, 2019

Cost Estimate
H.R. 3847, a bill to designate the facility of the United States Postal Service located at 117 West Poythress Street in Hopewell, Virginia, as the "Reverend Curtis West Harris Post Office Building"
September 14, 2020
As ordered reported by the House Committee on Oversight and Reform on December 19, 2019

Cost Estimate
H.R. 3870, a bill to designate the facility of the United States Postal Service located at 511 West 165th Street in New York, New York, as the "Normandia Maldonado Post Office Building"
September 14, 2020
As ordered reported by the House Committee on Oversight and Reform on March 4, 2020

Cost Estimate
H.R. 6589, Department of Veterans Affairs Chief Financial Officer Authority and Collaboration Act of 2020
September 14, 2020
As ordered reported by the House Committee on Veterans’ Affairs on July 30, 2020

Cost Estimate
H.R. 8089, Emergency Stopgap USCIS Stabilization Act
September 14, 2020
As passed by the House of Representatives

Cost Estimate
S. 3105, an act to designate the facility of the United States Postal Service located at 456 North Meridian Street in Indianapolis, Indiana, as the "Richard G. Lugar Post Office"
September 14, 2020
As passed by the Senate

FASB

FASB Approves Accounting Updates to Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets  [09/17/20]
Media Advisory
ASU 2020-07
FASB In Focus

Remarks of FASB Chair Richard R. Jones at the Virtual AICPA Conference on Banks and Savings Institutions  [09/15/20]
Speech

GAO

Critical Infrastructure Protection:
Treasury Needs to Improve Tracking of Financial Sector Cybersecurity Risk Mitigation Efforts
GAO-20-631: Published: Sep 17, 2020. Publicly Released: Sep 17, 2020.

Defense Health Care:
Implementation of Value-Based Initiatives in TRICARE
GAO-20-695R: Published: Sep 17, 2020. Publicly Released: Sep 17, 2020.

Agriculture Spending:
Opportunities Exist for USDA to Identify Successes and Challenges of the Farmers to Families Food Box Program to Inform Future Efforts
GAO-20-711R: Published: Sep 16, 2020. Publicly Released: Sep 16, 2020.

Senior Executive Service:
Opportunities for Selected Agencies to Improve Their Career Reassignment Processes
GAO-20-559: Published: Sep 16, 2020. Publicly Released: Sep 16, 2020.

Telecommunications:
FCC Should Take Action to Better Manage Persistent Fraud Risks in the Schools and Libraries Program
GAO-20-606: Published: Sep 16, 2020. Publicly Released: Sep 16, 2020.

VA Acquisition Management:
COVID-19 Response Strains Supply Chain While Modernization Delays Continue
GAO-20-716T: Published: Sep 16, 2020. Publicly Released: Sep 16, 2020.

Veterans Affairs:
VA Needs to Address Persistent IT Modernization and Cybersecurity Challenges
GAO-20-719T: Published: Sep 16, 2020. Publicly Released: Sep 16, 2020.

Private Health Coverage:
Results of Covert Testing for Selected Offerings
GAO-20-634R: Published: Aug 24, 2020. Publicly Released: Sep 16, 2020.

Steel and Aluminum Tariffs:
Commerce Should Improve Its Exclusion Request Process and Economic Impact Reviews
GAO-20-517: Published: Sep 15, 2020. Publicly Released: Sep 15, 2020.

Conflict Minerals:
Actions Needed to Assess Progress Addressing Armed Groups' Exploitation of Minerals
GAO-20-595: Published: Sep. 14, 2020 Publicly Released: Sep. 14, 2020

IASB

September 2020 IFRS for SMEs Update published
18 September 2020

IRS

IRS provides tax relief for victims of Oregon wildfires; Oct. 15 deadline, other dates extended to Jan. 15
IR-2020-215, September 17, 2020  — Victims of the Oregon wildfires and straight-line winds that began on September 7 now have until January 15, 2021 to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

IRS releases state-by-state breakdown of nearly 9 million non-filers who will be mailed letters about Economic Impact Payments
IR-2020-214, September 17, 2020 — The Internal Revenue Service today released a state-by-state breakdown of the roughly nine million people receiving a special mailing this month encouraging them to see if they’re eligible to claim an Economic Impact Payment.

IRS reminds taxpayers who filed an extension that the Oct. 15 due date approaches
IR-2020-213, September 16, 2020 — The Internal Revenue Service today reminds taxpayers who filed an extension that the October 15 due date to file 2019 tax returns is approaching.

IRS reminds taxpayers and practitioners of expedited letter ruling procedures
IR-2020-212, September 16, 2020 — The Internal Revenue Service continues to look for ways to assist taxpayers affected by the COVID-19 pandemic.

IRS updates LB&I examination directive on credit for increasing research activities
IR-2020-211, September 15, 2020 — The IRS has revised guidance for examiners in the Large Business & International division (LB&I) reviewing the amounts claimed for the tax credit for increasing research activities.

IRS issues final regulations for the rehabilitation credit
IR-2020-210, September 15, 2020 — The Internal Revenue Service today issued final regulations for taxpayers who claim the rehabilitation credit.

Final regulations on business interest expense deduction limitation published in the Federal Register
IR-2020-209, September 14, 2020 — The final regulations for the business interest expense deduction limitation published in the Federal Register today.

NYS

Governor Cuomo Announces Insurance Fraud Action Against Johnson & Johnson for Leading Role in the Opioid Crisis
September 17, 2020

Department of Financial Services Announces Charges Against Debt Collector for Unlawfully Pursuing Debts After Failing to Prove Right to Collect
September 16, 2020​

Governor Cuomo Announces Special Enrollment for Uninsured Extended Through the End Of 2020
September 16, 2020​​

SEC

SEC Awards Almost $250,000 to Joint Whistleblowers
2020-214, Sept. 17, 2020 — The Securities and Exchange Commission today announced an award of nearly $250,000 to joint whistleblowers whose tip caused the opening of an investigation that resulted in a successful enforcement action. The whistleblowers raised concerns internally before reporting the concerns to the Commission.

SEC Charges Former CEO of Technology Company With Raising $123 Million in Fraudulent Offerings
2020-213, Sept. 17, 2020 — The Securities and Exchange Commission today filed an emergency action against Adam Rogas, the former CEO of Las-Vegas-based NS8 Inc., which purports to provide fraud detection and prevention software to e-commerce merchants, seeking an asset freeze and charging Rogas with defrauding investors by falsely claiming millions of dollars in revenue.

SEC Adopts Amendments to Enhance Retail Investor Protections and Modernize the Rule Governing Quotations for Over-the-Counter Securities
2020-212, Sept. 16, 2020 — The Securities and Exchange Commission today adopted amendments to Exchange Act Rule 15c2-11, an important component of the over-the-counter (OTC) market regulatory structure.  The amendments are designed to modernize the rule, which was last substantively amended nearly thirty years ago, including to recognize advances in communications technologies.  The amended rule enhances disclosure and investor protection in the OTC market by ensuring that broker-dealers, in their role as professional gatekeepers to this market, do not publish quotations for an issuer’s security when current issuer information is not publicly available, subject to certain exceptions

Unregistered ICO Issuer Agrees to Disable Tokens and Pay Penalty for Distribution to Harmed Investors
2020-211, Sept. 15, 2020 — The Securities and Exchange Commission today announced charges against Unikrn Inc., an operator of an online eSports gaming and gambling platform headquartered in Seattle, Washington, for conducting an unregistered initial coin offering (ICO) of digital asset securities.  Unikrn agreed to settle the charges by paying a $6.1 million penalty, substantially all of the company's assets, to be distributed to investors through a Fair Fund.

​SEC Releases Report and Recommendations on the 39th Annual Small Business Forum
2020-210, Sept. 14, 2020 —The Securities and Exchange Commission today delivered a report to Congress on the 39th Annual Small Business Forum. The Forum is a unique event where members of the public and private sectors gather to craft suggestions for policy impacting emerging businesses and their investors, from startups to smaller public companies.  The Office of the Advocate for Small Business Capital Formation hosted the 2020 Forum on June 18, 2020 in a completely virtual format, which resulted in an inclusive event that engaged entrepreneurs, investors, market participants and other thought leaders from across the country.   The 2020 Forum report is now available for download online.

TIGTA

Processes Do Not Ensure That Individual Taxpayer Identification Numbers Are Issued Only to Qualifying Individuals With a Tax Administration Need
September 17, 2020​

Fiscal Year 2020 Statutory Review of Compliance With Notice of Federal Tax Lien Filing Due Process Procedures
September 17, 2020
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