AICPA

Press Release
AICPA Greatly Concerned About Taxpayers’ and Tax Practitioners’ Ability to Meet Filing Deadlines During Coronavirus Pandemic
AICPA today expressed its dismay that the IRS did not provide taxpayers and tax preparers with sufficient relief during the current tax filing season.
March 13, 2020

Press Release
AICPA Issues Letter to IRS in Response to Proposed and Final BEAT Regulations
AICPA submitted a letter to the Dept. of the Treasury and IRS in response to proposed rulemaking REG-112607-19 and final regulations T.D. 9885 related to section 59A of the TCJA.
March 13, 2020

Press Release
COVID-19 U.S. Emergency Declaration: What Does it Mean for U.S. Taxpayers and Tax Practitioners?
AICPA applauds the President’s declaration and urges the IRS to announce specific details today regarding the extension of impending filing and payment deadlines.
March 13, 2020

Press Release
AICPA Unveils New Supply Chain Risk Management Reporting Framework
Today’s supply chains are highly sophisticated and complex, there is often a high level of interdependence and connectivity between them, which increases an organization’s vulnerability to risk.
March 12, 2020

Press Release
AICPA Calls for Tax Filing Relief Amid Coronavirus Pandemic
The AICPA calls for the Treasury Department and the IRS to provide relief to all taxpayers in light of the uncertainty and challenges caused by the spread of the Coronavirus (COVID-19) pandemic.
March 11, 2020

Press Release
ASB’s New Auditor Reporting Standard Provides Additional Accuracy, Consistency and Transparency
The issuance of SAS No. 139 is another step in finalizing our Auditor Reporting suite of standards
March 10, 2020

CBO

Cost Estimate
Division A - Prescription Drug Pricing Reduction Act of 2019
March 13, 2020
As posted on December 6, 2019, with modifications discussed with staff

Report
Federal Debt: A Primer
March 12, 2020
From the end of 2008 to 2019, the amount of federal debt held by the public nearly tripled. This report describes federal debt, various ways to measure it, CBO’s projections for the coming decade, and the consequences of its growth.

Cost Estimate
H.R. 4470, a bill to rename the Saint Lawrence Seaway Development Corporation the Great Lakes St. Lawrence Seaway Development Corporation
March 12, 2020
As ordered reported by the House Committee on Transportation and Infrastructure on February 26, 2020

Cost Estimate
H.R. 5, Equality Act
March 12, 2020
As passed by the House of Representatives on May 17, 2019

Cost Estimate
H.R. 5760, Grid Security Research and Development Act
March 12, 2020
As ordered reported by the House Committee on Science, Space, and Technology on February 12, 2020

Report
Transparency at CBO: Future Plans and a Review of 2019
March 12, 2020
CBO’s transparency efforts aim to promote a thorough understanding of its work, help people gauge how estimates might change if policies or circumstances differed, and enhance the credibility of its analyses and processes.

Report
Testimony on CBO’s Appropriation Request for Fiscal Year 2021
March 11, 2020
Director Phillip Swagel testifies on CBO’s appropriation request for fiscal year 2021 before the Senate Appropriations Committee’s Subcommittee on the Legislative Branch.

Cost Estimate
H.R. 2166, Global Health Security Act of 2020
March 10, 2020
As ordered reported by the House Committee on Foreign Affairs on March 4, 2020

Cost Estimate
H.R. 4679, Climate-Ready Fisheries Act of 2019
March 10, 2020
As ordered reported by the House Committee on Natural Resources on January 29, 2020

Cost Estimate
H.R. 496, Sinkhole Mapping Act of 2019
March 10, 2020
As ordered reported by the House Committee on Natural Resources on January 15, 2020

Cost Estimate
H.R. 5119, Safe Aircraft Maintenance Standards Act
March 10, 2020
As ordered reported by the House Committee on Transportation and Infrastructure on November 20, 2019

Cost Estimate
H.R. 5670, Transportation Security Transparency Improvement Act
March 10, 2020
As ordered reported by the House Committee on Homeland Security on January 29, 2020

Cost Estimate
H.R. 5823, State and Local Cybersecurity Improvement Act
March 10, 2020
As ordered reported by the House Committee on Homeland Security on February 12, 2020

Cost Estimate
H.R. 4894, Congressional Budget Justification Transparency Act of 2019
March 9, 2020
As ordered reported by the House Committee on Oversight and Reform on March 4, 2020

Cost Estimate
H.R. 5780, Safe Communities Act of 2020
March 9, 2020
As ordered reported by the House Committee on Homeland Security on February 12, 2020

Cost Estimate
H.R. 6020, a bill to require an evaluation by the Government Accountability Office of the social, economic, and historic contributions that Minor League Baseball has made to American life and culture
March 9, 2020
As ordered reported by the House Committee on Oversight and Reform on March 4, 2020

Cost Estimate
CBO’s Estimate of the Statutory Pay-As-You-Go Effects of H.R. 2877, a bill to add Ireland to the E-3 nonimmigrant visa program
March 6, 2020
As Introduced in the House of Representatives on May 21, 2019

FASB

FASB Postpones Leases Roundtable to May 18, 2020
[03/12/20]
Media Advisory

FASB Issues Guidance to Assist in Transition Away from Interbank Offered Rates to New Reference Rates
[03/12/20]
News Release
ASU 2020-04
FASB In Focus
Educational Video

FASB Appoints Two New Members to Emerging Issues Task Force
[3/10/20]
Media Advisory

SEC Accepts 2020 GAAP Financial Reporting Taxonomy and SEC Reporting Taxonomy
[03/10/20]
Media Advisory

GAO

Medicare and Medicaid:
Alignment of Managed Care Plans for Dual-Eligible Beneficiaries
GAO-20-319: Published: Mar 13, 2020. Publicly Released: Mar 13, 2020.

2020 Census:
Bureau Generally Followed Its Plan for In-Field Address Canvassing
GAO-20-415:Published: Mar 12, 2020. Publicly Released: Mar 12, 2020.

Cost Estimating and Assessment Guide:
Best Practices for Developing and Managing Program Costs
GAO-20-195G: Published: Mar 12, 2020. Publicly Released: Mar 12, 2020.

Missile Defense:
Lessons Learned From Acquisition Efforts
GAO-20-490T: Published: Mar 12, 2020. Publicly Released: Mar 12, 2020.

The Nation's Fiscal Health:
Action Is Needed to Address the Federal Government's Fiscal Future
GAO-20-403SP: Published: Mar 12, 2020. Publicly Released: Mar 12, 2020.

The Nation's Fiscal Health:
Action Is Needed to Address the Federal Government's Fiscal Future
GAO-20-482T: Published: Mar 12, 2020. Publicly Released: Mar 12, 2020.

Economic Sanctions:
Treasury and State Have Received Increased Resources for Sanctions Implementation but Face Hiring Challenges
GAO-20-324: Published: Mar 11, 2020. Publicly Released: Mar 11, 2020.

Fiscal Year 2021 Budget Request:
U.S. Government Accountability Office
GAO-20-430T: Published: Mar 11, 2020. Publicly Released: Mar 11, 2020.

Modernizing the Nuclear Security Enterprise:
Uranium Processing Facility Is on Schedule and Budget, and NNSA Identified Additional Uranium Program Costs
GAO-20-293: Published: Mar 11, 2020. Publicly Released: Mar 11, 2020.

National Biodefense Strategy:
Opportunities and Challenges with Early Implementation
GAO-20-483T: Published: Mar 11, 2020. Publicly Released: Mar 11, 2020.

Abandoned Hardrock Mines:
Information on Number of Mines, Expenditures, and Factors That Limit Efforts to Address Hazards
GAO-20-238: Published: Mar 5, 2020. Publicly Released: Mar 11, 2020

U.S. Postal Service:
Expanding Nonpostal Products and Services at Retail Facilities Could Result in Benefits, but May Have Limited Viability
GAO-20-354: Published: Mar 10, 2020. Publicly Released: Mar 10, 2020

La Agencia Federal para el Desarrollo de la Pequeña Empresa:
​el Procesamiento de Préstamos para Desastres Fue Más Puntual, Pero Mejoramientos en la Planificación y la Evaluación del Programa Piloto son Necesarios
GAO-20-369: Published: Feb. 7, 2020 Publicly Released: Mar. 9, 2020

Small Business Administration:
Disaster Loan Processing Was Timelier, but Planning Improvements and Pilot Program Evaluation Needed
GAO-20-168: Published: Feb. 7, 2020 Publicly Released: Mar. 9, 2020

GASB IASB

13 March 2020
March 2020 IFRIC Update published

13 March 2020
Coronavirus—IFRS Foundation meetings updates

IRS

Tax Time Guide: Guard personal, financial and tax information year-round
IR-2020-56, March 13, 2020 — The Internal Revenue Service today reminded taxpayers to remain vigilant with their personal information by securing computers and mobile phones.

IRS announces waivers for Offer in Compromise applications
IR-2020-55, March 12, 2020 — The Internal Revenue Service today announced the release of final regulations that increase the Offer in Compromise application fee to $205 and provide an additional way for the IRS to waive the Offer in Compromise application fee for low-income taxpayers, based on their adjusted gross income (AGI).

IRS: High-deductible health plans can cover coronavirus costs
IR-2020-54, March 11, 2020 — The Internal Revenue Service today advised that high-deductible health plans (HDHPs) can pay for 2019 Novel Coronavirus (COVID-19)-related testing and treatment, without jeopardizing their status.

Tax Time Guide: Tax Withholding Estimator helps retirees, workers and self-employed calculate taxes, fill out new Form W-4
IR-2020-53, March 10, 2020 — The IRS is encouraging taxpayers to take control of the size of their refund using the Tax Withholding Estimator on IRS.gov.

​Get up-to-date information including the annual IRS "Dirty Dozen" with IRS e-News Subscriptions
IR-2020-52, March 9, 2020 — The IRS today reminded taxpayers, businesses, tax professionals and others to take advantage of a wide variety of free IRS email subscription services that feature things like the annual "Dirty Dozen" list of tax scams, which is coming this month.

NYS

DFS Adopts Emergency Regulation Directing Health Insurers to Waive Cost-Sharing For Novel Coronavirus Testing

SEC

​Cboe Options Exchange Temporarily Shifts to Fully Electronic Trading – SEC Enables Immediate Effectiveness of Proposed Rule Change to Facilitate Continued Operations in Light of Temporary Suspension of Cboe Physical Trading Floor
2020-64, March 14, 2020 —The U.S. Securities and Exchange Commission noticed for immediate effectiveness a proposed rule filing submitted by Cboe Exchange, Inc. to facilitate the continued operation of Cboe's options exchange in light of Cboe's decision to temporarily suspend open outcry trading on its Chicago trading floor.

SEC Takes Targeted Action to Assist Funds and Advisers, Permits Virtual Board Meetings and Provides Conditional Relief from Certain Filing Procedures
SEC Is Closely Monitoring the Impact of the Coronavirus on Investors, Funds, and Advisers

SEC Staff Provides Guidance to Promote Continued Shareholder Engagement, Including at Virtual Annual Meetings, for Companies and Funds Affected by the Coronavirus Disease 2019 (COVID-19)
2020-62., March 13, 2020 —The Securities and Exchange Commission today announced that the SEC staff has published guidance to assist public companies, investment companies, shareholders, and other market participants affected by COVID-19 with their upcoming annual shareholder meetings.  The guidance is designed to facilitate the ability of companies to hold these important meetings, including through the use of technology, and engage with shareholders while complying with the federal securities laws.

SEC Charges Russian National for Defrauding Older Investors of Over $26 Million in Phony Certificates of Deposit Scam
2020-61, March 13, 2020 —The Securities and Exchange Commission today announced charges against Denis Georgiyevich Sotnikov and entities he controlled for allegedly participating in a fraudulent scheme to lure U.S. investors into buying fictitious Certificates of Deposit (CDs) promoted through internet advertising and “spoofed” websites that mimic the actual sites of legitimate financial institutions.

SEC Wins Jury Trial Against Microcap Fraudsters
2020-60, March 12, 2020 —Jurors in Los Angeles federal court yesterday returned a verdict in the Securities and Exchange Commission’s favor against a microcap issuer, Curative Biosciences Inc., formerly known as Healthient Inc., and husband-and-wife insiders who made false and misleading statements to conceal their unregistered sales of company stock.

Division of Corporation Finance Chief Accountant and Disclosure Review Program Director Kyle Moffatt to Leave SEC
2020-59,  March 12, 2020 —The Securities and Exchange Commission today announced that Kyle Moffatt, Chief Accountant and Disclosure Program Director in the Division of Corporation Finance, will leave the agency in March after nearly 20 years of public service.

SEC Adopts Amendments to Reduce Unnecessary Burdens on Smaller Issuers by More Appropriately Tailoring the Accelerated and Large Accelerated Filer Definitions
2020-58., March 12, 2020 — The Securities and Exchange Commission today adopted amendments to the accelerated filer and large accelerated filer definitions. The amendments will more appropriately tailor the types of issuers that are included in the definitions, thereby reducing unnecessary burdens and compliance costs for certain smaller issuers while maintaining investor protections. The amendments are consistent with the Commission’s and Congress’s historical practice of providing scaled disclosure and other accommodations to reduce unnecessary burdens for new and smaller issuers.

SEC Adopts Investor Disclosure Improvements for Variable Annuities and Variable Life Insurance Contracts

SEC Halts Fraudulent Offering By Florida Investment Adviser
2020-56, March 10, 2020 — On March 6, 2020, the Securities and Exchange Commission obtained an asset freeze and other emergency relief against Florida-based investment adviser Kinetic Investment Group LLC and its managing member, Michael Scott Williams, in connection with an alleged fraudulent, unregistered securities offering that raised approximately $39 million from at least 30 investors located mostly in Florida and Puerto Rico.

EVENT POSTPONED: SEC Announces Conference on Municipal Securities Disclosure
2020-17., March 9, 2020 —
THIS PREVIOUSLY ANNOUNCED EVENT HAS BEEN POSTPONED.THE EVENT WILL BE RESCHEDULED AT A FUTURE DATE.
The Securities and Exchange Commission today announced that it will host a March 10 conference to focus on municipal securities, which are predominantly owned by Main Street investors and help finance important public projects like schools, roads and utilities.