AICPA

AICPA’s Auditing Standards Board Revises Going Concern Standard; Webcast Planned for February 24 
New York (Feb. 22, 2017) - The AICPA’s Auditing Standards Board (ASB) has issued Statement on Auditing Standards (SAS) No. 132, The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern (AICPA, Professional Standards, AU-C sec. 570).

Remember These Tips When Filing Your 2016 Tax Return, AICPA Tax Vice President Says 
Washington, D.C. (February 22, 2017) – “Each tax filing season is unique and presents taxpayers with new challenges,” according to Edward S. Karl, CPA, CGMA, vice president of taxation for the American Institute of CPAs (AICPA). “Taxpayers always have to learn about new rules and changes to old rules to avoid making mistakes.”

AICPA Recommends IRS Develop a New Income Tax Form to Improve S Corporation Shareholder Compliance 
Washington, D.C. (February 23, 2017) – The American Institute of CPAs (AICPA) has recommended to the U.S. Department of the Treasury and the Internal Revenue Service (IRS) that a new income tax form be developed in order to improve S corporation shareholder compliance with the basis rules under subchapter S (section 1367 of the Internal Revenue Code). 

FASB 

FASB Issues Accounting Standards Update 2017-06—Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): Employee Benefit Plan Master Trust Reporting (a consensus of the Emerging Issues Task Force)  [02/27/17]  ASU 2017-06

FASB Issues Accounting Standards Update 2017-05—Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets  [02/22/17] ASU 2017-05

GAO

Grants Management:
EPA Has Taken Steps to Improve Competition for Discretionary Grants but Could Make Information More Readily Available
GAO-17-161:Published: Jan 23, 2017. Publicly Released: Feb 22, 2017.

Maritime Administration:
Proceeds from the Sale of Obsolete Vessels Were Accounted for, Allocated, and Disbursed Consistent with Applicable Law
GAO-17-280:Published: Feb 23, 2017. Publicly Released: Feb 23, 2017.

Revenue Collections and Payments:
Treasury Has Used Financial Agents in Evolving Ways but Could Improve Transparency
GAO-17-176:Published: Jan 25, 2017. Publicly Released: Feb 24, 2017.

Joint Exercise Program:
DOD Needs to Take Steps to Improve the Quality of Funding Data
GAO-17-7:Published: Feb 24, 2017. Publicly Released: Feb 24, 2017.

Federal Reserve System:
Potential Implications of Modifying the Capital Surplus Account and Stock Ownership Requirement
GAO-17-243:Published: Feb 24, 2017. Publicly Released: Feb 24, 2017.

Electronic Health Records:
HHS Needs to Improve Planning and Evaluation of Its Efforts to Increase Information Exchange in Post-Acute Care Settings
GAO-17-184:Published: Jan 27, 2017. Publicly Released: Feb 27, 2017.

IASB

February 2017 IASB Update published and the Work Plan updated
27 February 2017 - The February 2017 IASB Update has been published and the Work Plan updated.

GPF meeting: Wednesday 8 March—Agenda papers available
27 February 2017 - The next GPF meeting will be held on Wednesday 8 March 2017.

Summary of the January/February 2017 Trustee and DPOC meeting
27 February 2017 - The Trustees of the IFRS Foundation have announced the conclusions of their meeting in January/February 2017.

February 2017 podcast: IASB Chair and Vice-Chair discuss latest decisions
28 February 2017 - A new podcast is now available, featuring Hans Hoogervorst and Sue Lloyd, Chair and Vice-Chair of the International Accounting Standards Board (the Board), together with IASB Education Director Matt Tilling.

IRS 

Tax Time Guide: Use IRS.gov to Find Qualified Tax Professionals 
IR-2017-48, Feb. 28, 2017 — The IRS today reminded taxpayers that IRS.gov offers many useful tips and information to find a qualified tax professional.

IRS Criminal Investigation Releases Fiscal Year 2016 Annual Report
IR-2017-47, Feb. 27, 2017 — The IRS today announced the release of its IRS Criminal Investigation (CI) annual report, reflecting the significant accomplishments and criminal enforcement actions taken in fiscal year 2016.

IRS Releases 100th eBook; Another Way for Taxpayers to Get Helpful Information throughout the Year
IR-2017-46, Feb. 27, 2017 — The Internal Revenue Service today unveiled its 100th eBook — a milestone in IRS efforts to share information to meet the changing needs of taxpayers.

Tax Time Guide: Use Free File for Help with Tax Returns, Extensions and More
IR-2017-45, Feb. 27, 2017 — The IRS reminded the millions of taxpayers who have yet to file that IRS Free File remains available at IRS.gov/FreeFile and through the mobile app, IRS2Go.

March 1 Tax Deadline Nears for Many Farmers and Fishermen; IRS Direct Pay Offers an Easy Way to Pay Taxes
IR-2017-44, Feb. 24, 2017 ― The IRS is reminding farmers and fishermen about Wednesday’s deadline to take advantage of special rules that can allow them to forgo making quarterly estimated tax payments.

IRS Reminds International Taxpayers of Tax Obligations; Clarifies Rules for Tax Withholding Agents
IR-2017-43, Feb. 23, 2017 — The IRStoday reminded non-U.S. citizens who may have taxable income, such as international students and scholars who may be working or receiving scholarship funds, that they may have special requirements to file a U.S. tax return.

IRS Releases Tax Time Guide: Use IRS.gov Tools to Answer Tax Questions
IR-2017-42, Feb. 23, 2017 —The IRS today encouraged taxpayers to take advantage of the online tools and resources available on IRS.gov as the IRS expects heavy call volume during the last two weeks of February.

IRS Makes Approved Form 1023-EZ Data Available Online
IR-2017-41, Feb. 22, 2017 — The IRS announced today that publicly available information from approved applications for tax exemption using Form 1023-EZ, Streamlined Application for Recognition of Exemption, is now available electronically for the first time.

NYS Dept. of Taxation and Finance

Four Questions to Ask before Hiring a Tax Preparer
The New York State Department of Taxation and Finance today encouraged taxpayers to ask their tax preparer four simple questions before trusting them with their private information. An estimated 70% of New York taxpayers hire a tax professional to complete their personal income tax returns each year.

Governor Cuomo Announces $36 Million in Savings to Farmers Through Agricultural Assessment Cap
Governor Andrew M. Cuomo today announced more than $36.6 million in savings for farmers across the state through the first three years of the Agricultural Assessment Cap. Governor Cuomo signed the cap into law in 2013, preventing agricultural assessments from being increased by more than two percent per year. 

Corporate Tax Filers: Convenient New Form and Online Filing Process
The New York State Department of Taxation and Finance today reminded corporate tax filers that they must make their Mandatory First Installment (MFI) of estimated tax on new Form CT-300.

SEC

SEC Announces Agenda for March 9 Investor Advisory Committee Meeting
Washington D.C., Feb. 23, 2017 — The Securities and Exchange Commission today announced the agenda for the March 9 meeting of its Investor Advisory Committee.  The meeting will commence at 9:30 a.m. in the Multipurpose Room at SEC headquarters at 100 F Street, N.E., Washington, D.C. and is open to the public.  The meeting will be webcast live and archived on the committee’s website for later viewing.

SEC Staff Issues Guidance Update and Investor Bulletin on Robo-Advisers
Washington D.C., Feb. 23, 2017 — The Securities and Exchange Commission today published information and guidance for investors and the financial services industry on the fast-growing use of robo-advisers, which are registered investment advisers that use computer algorithms to provide investment advisory services online with often limited human interaction.