Trusted Professional

Regulatory Roundup: April 25-May 1

AICPA 

April 26
Despite Stock Market Dip, Lower Taxes Help Americans Reach Record Level of Financial Satisfaction: AICPA Index

CBO

Presentation
CBO's Role in the Legislative Process

May 1, 2018

Report
How CBO Estimates the Cost of New Ships

April 27, 2018

Cost Estimate
H.R. 2825, DHS Authorization Act

April 26, 2018

Cost Estimate
H.R. 5129, Global Food Security Reauthorization Act of 2018

April 26, 2018

Cost Estimate
H.R. 3997, Free Veterans from Fees Act

April 26, 2018

Presentation
An Overview of The Budget and Economic Outlook: 2018 to 2028

April 26, 2018

Presentation
CBO’s 10-Year Economic Forecast and How It Is Produced

April 26, 2018

Cost Estimate
S. 994, Protecting Religiously Affiliated Institutions Act of 2018
April 25, 2018

Report
Testimony on CBO’s Appropriation Request for Fiscal Year 2019
April 25, 201

Cost Estimate
H.R. 5447, Music Modernization Act
April 25, 2018

Cost Estimate
H.R. 200, Strengthening Fishing Communities and Increasing Flexibility in Fisheries Management Act
April 24, 2018

Cost Estimate
H.R. 4631, Access to Congressionally Mandated Reports Act
April 24, 2018

FAF

Private Company Council  [04/27/18]
April 20, 2018 Meeting Recap

FASB

FASB Names New Members to Its Small Business Advisory Committee  [04/30/18]
News Release

FASB Issues Proposed Accounting Standards Update—Collaborative Arrangements (Topic 808): Targeted Improvements  [04/26/18]
Exposure Document

GAO

Presidential Helicopter:
VH-92A Program Is Stable and Making Progress While Facing Challenges

GAO-18-359: Published: Apr 30, 2018. Publicly Released: Apr 30, 2018.

Additional Opportunities to Reduce Fragmentation, Overlap, and Duplication and Achieve Other Financial Benefits
GAO-18-371SP: Published: Apr 26, 2018. Publicly Released: Apr 26, 2018.

DOD Health Care:
Defense Health Agency Should Improve Tracking of Serious Adverse Medical Events and Monitoring of Required Follow-up
GAO-18-378: Published: Apr 26, 2018. Publicly Released: Apr 26, 2018.

Federal Student Loans:
Actions Needed to Improve Oversight of Schools' Default Rates

GAO-18-163: Published: Apr 26, 2018. Publicly Released: Apr 26, 2018.

Government Efficiency and Effectiveness:
Opportunities to Reduce Fragmentation, Overlap, and Duplication and Achieve Other Financial Benefits

GAO-18-98T: Published: Apr 26, 2018. Publicly Released: Apr 26, 2018.

Older Adult Housing:
Future Collaborations on Housing and Health Services Should Include Relevant Agencies and Define Outcomes

GAO-18-232: Published: Apr 26, 2018. Publicly Released: Apr 26, 2018.

Unaccompanied Children:
DHS and HHS Have Taken Steps to Improve Transfers and Monitoring of Care, but Actions Still Needed

GAO-18-506T: Published: Apr 26, 2018. Publicly Released: Apr 26, 2018.

DHS Program Costs:
Reporting Program-Level Operations and Support Costs to Congress Would Improve Oversight

GAO-18-344: Published: Apr 25, 2018. Publicly Released: Apr 25, 2018.

Fiscal Year 2019 Budget Request:
U.S. Government Accountability Office

GAO-18-426T: Published: Apr 25, 2018. Publicly Released: Apr 25, 2018.

Fiscal Year 2019 Budget Request
U.S. Government Accountability Office

GAO-18-448T: Published: Apr 25, 2018. Publicly Released: Apr 25, 2018.

Military Readiness:
Clear Policy and Reliable Data Would Help DOD Better Manage Service Members' Time Away from Home

GAO-18-253: Published: Apr 25, 2018. Publicly Released: Apr 25, 2018.

Warfighter Support:
DOD Needs to Share F-35 Operational Lessons Across the Military Services

GAO-18-464R: Published: Apr 25, 2018. Publicly Released: Apr 25, 2018. 

Weapon Systems Annual Assessment:
Knowledge Gaps Pose Risks to Sustaining Recent Positive Trends

GAO-18-360SP: Published: Apr 25, 2018. Publicly Released: Apr 25, 2018.

CMS Innovation Center:
Model Implementation and Center Performance

GAO-18-302: Published: Mar 26, 2018. Publicly Released: Apr 25, 2018. *

IASB

30 April 2018
IFRS Foundation April news summary published

30 April 2018
April 2018 IASB Update published and work plan updated

27 April 2018
Summary of March 2018 GPF meeting available

26 April 2018
Sue Lloyd reappointed for a second term as IASB Vice-Chair

25 April 2018
Join the IFRS Advisory Council

IRS 

IRS provides certain small employers with relief for the small business health care tax credit for 2017 and later years
IR-2018-108, April 27, 2018 ― The Internal Revenue Service today issued guidance that provides relief for certain small employers that wish to claim the Small Business Health Care Tax Credit for 2017 and later years.

IRS grants relief for taxpayers affected by reduction of maximum deductible Health Savings Account contributions
IR-2018-107, April 26, 2018 – The Internal Revenue Service today announced relief for taxpayers with family coverage under a High Deductible Health Plan (HDHP) who contribute to a Health Savings Account (HSA).

Tax law, cybersecurity key topics at the 2018 IRS Nationwide Tax Forums
IR-2018-106, April 26, 2018 — With recent tax law changes and continued cybersecurity threats facing the tax community, the Internal Revenue Service today encouraged tax professionals to sign up for this summer’s Nationwide Tax Forums to get the latest information and developments.

IRS announces 2018 National Small Business Week webcasts
IR-2018-105, April 26, 2018 ― The Internal Revenue Service announced today it will host daily webcasts during National Small Business Week, April 29-May 5. The webcasts are designed to help small business owners and self-employed individuals navigate common tax situations they may encounter.

IRS describes new tax reform information reporting requirements for certain life insurance contract transactions and provides transitional guidance delaying reporting until final regulations are issued
IR-2018-104, April 26, 2018 ― The Internal Revenue Service today described the new information reporting requirements for certain life insurance contracts under new IRC 6050Y, which was added by the Tax Cuts and Jobs Act (TCJA).

IRS, Security Summit Partners warn of new twist on phone scam; crooks direct taxpayers to IRS.gov to “verify” calls

IR-2018-103, April 24, 2018 — The IRS today warned of a new twist on an old phone scam as criminals use telephone numbers that mimic IRS Taxpayer Assistance Centers to trick taxpayers into paying non-existent tax bills.

NYS Dept. of Taxation and Finance 

April 26, 2018
New York State Reminds Farmers About Available Tax Credit Programs to Reduce Business Costs

SEC

Office of International Affairs Director Paul A. Leder to Leave SEC
Washington D.C., April 30, 2018 — The Securities and Exchange Commission today announced that Paul A. Leder, Director of the Office of International Affairs (OIA), will leave the agency in June. Mr. Leder rejoined the agency as OIA Director in February 2014. OIA advises the Commission on cross-border enforcement and regulatory matters and coordinates the SEC's involvement with regulatory authorities outside the United States.

Panasonic Charged With FCPA and Accounting Fraud Violations
Washington D.C., April 30, 2018—The Securities and Exchange Commission today announced that Japan-based Panasonic Corp. will pay more than $143 million to resolve charges of Foreign Corrupt Practices Act (FCPA) and accounting fraud violations involving its global avionics business. 

Eric R. Werner Named Associate Regional Director for Enforcement in Fort Worth Office
Washington D.C., April 25, 2018 — The Securities and Exchange Commission today announced that Eric R. Werner has been named the Associate Regional Director for Enforcement in the SEC’s Fort Worth Regional Office.  He succeeds Jessica B. Magee, who left the agency in February.