Regulatory Roundup: May 14-20
AICPA
Press Release
AICPA Honors James J. Leisenring with Gold Medal Award of Distinction
James J. Leisenring, CPA received the AICPA Gold Medal Award of Distinction for 2019. The Gold Medal Award is the highest honor granted by the AICPA.
May 19, 2019
Press Release
Health Insurance, Paid Time Off and Student Loan Forgiveness Top List of Millennials’ Desired Workplace Benefits: AICPA Survey
AICPA research specifically among young Millennials to see where their employee benefit priorities land.
May 16, 2019
Press Release
AICPA Makes Recommendations to IRS about Automatic Consent for Accounting Method Changes
The AICPA commented on key issues regarding Rev. Proc. 2018-31, which provides a list of accounting method changes for which automatic consent is granted.
May 15, 2019
CBO
Cost Estimate
H.R. 2326, Navy SEAL Chief Petty Officer William ″Bill″ Mulder (Ret.) Transition Improvement Act of 2019
May 17, 2019
As ordered reported by the House Committee on Veterans’ Affairs on May 8, 2019
Cost Estimate
H.R. 1812, Vet Center Eligibility Expansion Act
May 17, 2019
As ordered reported by the House Committee on Veterans’ Affairs on May 8, 2019
Report
Negotiation Over Drug Prices in Medicare
May 17, 2019
CBO answers questions about options for allowing the Secretary of Health and Human Services to negotiate over the prices paid for drugs under the Medicare Part D benefit.
Cost Estimate
H.R. 2359, Whole Veteran Act
May 16, 2019
As ordered reported by the House Committee on Veterans’ Affairs on May 8, 2019
Cost Estimate
H.R. 1307, Post-Disaster Assistance Online Accountability Act
May 16, 2019
As ordered reported by the House Committee on Transportation and Infrastructure on March 27, 2019
Cost Estimate
H.R. 2045, a bill to amend title 38, United States Code, to establish the Veterans Economic Opportunity and Transition Administration and the Under Secretary for Veterans Economic Opportunity and Transition of the Department of Veterans Affairs,
May 16, 2019
As ordered reported by the House Committee on Veterans’ Affairs on May 8, 2019
Cost Estimate
H.R. 2340, Fostering Intergovernmental Health Transparency in Veteran Suicides Act
May 16, 2019
As ordered reported by the House Committee on Veterans’ Affairs on May 8, 2019
Cost Estimate
H.R. 2502, Transparency in Federal Buildings Projects Act of 2019
May 16, 2019
As ordered reported by the House Committee on Transportation and Infrastructure on May 8, 2019
Cost Estimate
H.R. 312, Mashpee Wampanoag Tribe Reservation Reaffirmation Act
May 16, 2019
As passed by the House of Representatives on May 15, 2019
Cost Estimate
H.R. 2372, Veterans’ Care Quality Transparency Act
May 16, 2019
As ordered reported by the House Committee on Veterans’ Affairs on May 8, 2019
Presentation
Overlapping Generations Model Roundtable: Model Comparisons From a Stylized Social Security Experiment
May 16, 2019
Presentation by Kerk Phillips, an analyst in CBO’s Macroeconomic Analysis Division, at the National Tax Association’s 49th annual Spring Symposium.
Cost Estimate
H.R. 1306, Federal Disaster Assistance Coordination Act
May 15, 2019
As ordered reported by the House Committee on Transportation and Infrastructure on March 27, 2019
Cost Estimate
H.R. 1199, VA Website Accessibility Act of 2019
May 15, 2019
As ordered reported by the House Committee on Veterans’ Affairs on May 8, 2019
Cost Estimate
H.R. 1200, Veterans’ Compensation Cost-of-Living Adjustment Act of 2019
May 15, 2019
As ordered reported by the House Committee on Veterans’ Affairs on May 8, 2019
Cost Estimate
H.R. 2109, BRAVE Act
May 15, 2019
As ordered reported by the House Committee on Veterans’ Affairs on May 8, 2019
Cost Estimate
H.R. 2333, Support for Suicide Prevention Coordinators Act
May 15, 2019
As ordered reported by the House Committee on Veterans’ Affairs on May 8, 2019
Cost Estimate
H.R. 95, Homeless Veteran Families Act
May 15, 2019
As ordered reported by the House Committee on Veterans’ Affairs on May 8, 2019
Cost Estimate
H.R. 2157, Supplemental Appropriations Act, 2019
May 15, 2019
As passed by the House of Representatives on May 10, 2019
Cost Estimate
H.R. 1984, DISASTER Act
May 14, 2019
As ordered reported by the House Committee on Transportation and Infrastructure on May 8, 2019
Cost Estimate
H.R. 1108, Aviation Funding Stability Act of 2019
May 14, 2019
As ordered reported by the House Committee on Transportation and Infrastructure on March 27, 2019
Cost Estimate
H.R. 2196, a bill to amend title 38, United States Code, to reduce the credit hour requirement for the Edith Nourse
May 14, 2019
As ordered reported by the House Committee on Veterans’ Affairs on May 8, 2019
Cost Estimate
H.R. 277, ASCEND Act of 2019
May 14, 2019
As reported by the House Committee on Small Business on May 1, 2019
Blog Post
CBO Honors the Memory of Alice Rivlin
May 14, 2019
CBO mourns the passing of its founding Director, Alice M. Rivlin, who led the agency from 1975 to 1983. With vision, wisdom, and determination, she established CBO's structure and formulated procedures, standards, and goals that have guided it for more than four decades.
Cost Estimate
H.R. 2480, Stronger Child Abuse Prevention and Treatment Act
May 14, 2019
As ordered reported by the House Committee on Education and Labor on May 8, 2019
Cost Estimate
H.R. 2374, Stop STALLING Act
As ordered reported by the House Committee on the Judiciary on April 30, 2019
Cost Estimate
S. 820, Debbie Smith Act of 2019
As reported by the Senate Committee on the Judiciary on May 9, 2019
Cost Estimate
H.R. 1568, SAVE Right Whales Act
As ordered reported by the House Committee on Natural Resources on May 1, 2019
Cost Estimate
H.R. 745, Executive Branch Comprehensive Ethics Enforcement Act o2019
As ordered reported by the House Committee on Oversight and Reform on March 26, 2019
Cost Estimate
H.R. 278, a bill to direct the Secretary of the Interior to convey certain facilities, easements, and rights-of-way to the Kennewick Irrigation District, and for other purposes
As ordered reported by the House Committee on Natural Resources on May 1, 2019
Cost Estimate
H.R. 1809, A bill to amend the Pittman-Robertson Wildlife Restoration Act and the Dingell-Johnson Sport Fish Restoration Act, to provide parity for United States territories and the District of Columbia, to make technical corrections to such Acts and
As ordered reported by the House Committee on Natural Resources on May 1, 2019
Cost Estimate
H.R. 434, Emancipation National Historic Trail Study Act
As ordered reported by the House Committee on Natural Resources on May 1, 2019
Cost Estimate
H.R. 299, Blue Water Navy Vietnam Veterans Act of 2019
As reported by the House Committee on Veterans’ Affairs on May 10, 2019
Cost Estimate
H.R. 987, Strengthening Health Care and Lowering Prescription Drug Costs Act
Rules Committee Print 116-14
Cost Estimate
H.R. 1649, Small Business Development Center Cyber Training Act of 2019
As ordered reported by the House Committee on Small Business on May 1, 2019
FASB
Registration Opens for June 17 FASB Webcast for Private Companies & Not-for-Profit Organizations [05/16/19]
Media Advisory
Registration
FASB Issues Targeted Transition Relief to Institutions Applying the Credit Losses Standard [05/15/19]
News Release
ASU 2019-05
FASB Issues Proposal to Simplify Accounting for Income Taxes [05/14/19]
Media Advisory
Exposure Document
GAO
Defense Management:
Observations on Changes to the Reporting Structure for DOD's Corrosion Office and Its Implementation of GAO Recommendations
GAO-19-513: Published: May 17, 2019. Publicly Released: May 17, 2019.
Medicaid Demonstrations:
Approvals of Major Changes Need Increased Transparency
GAO-19-315: Published: Apr 17, 2019. Publicly Released: May 17, 2019.
Hardrock Mining:
Availability of Selected Data Related to Mining on Federal Lands
GAO-19-435R: Published: May 16, 2019. Publicly Released: May 16, 2019.
Women-Owned Small Business Program:
Actions Needed to Address Continued Oversight Issues
GAO-19-563T: Published: May 16, 2019. Publicly Released: May 16, 2019.
Financial Audit:
Bureau of the Fiscal Service's Fiscal Year 2018 Schedules of the General Fund
GAO-19-185: Published: May 15, 2019. Publicly Released: May 15, 2019.
Federal Contracting:
Opportunities to Improve Compliance with Regulations and Enhance Tax Collections
GAO-19-243: Published: Apr 15, 2019. Publicly Released: May 15, 2019.
Bank Supervision:
Regulators Improved Supervision of Management Activities but Additional Steps Needed
GAO-19-352: Published: May 14, 2019. Publicly Released: May 14, 2019.
Export-Import Bank:
Enhancements Needed in Credit Program Underwriting Policies and Procedures
GAO-19-43: Published: May 14, 2019. Publicly Released: May 14, 2019.
Combating Nuclear Terrorism:
DHS Should Address Limitations to Its Program to Secure Key Cities
GAO-19-327: Published: May. 13, 2019 Publicly Released: May. 13, 2019
Emergency Assistance for Zika:
USAID Supported Activities Overseas but Could Improve Funds Tracking and Response Planning
GAO-19-356: Published: May. 13, 2019 Publicly Released: May. 13, 2019
Special Operations Forces:
Additional Actions Are Needed to Effectively Expand Management Oversight
GAO-19-386: Published: May. 13, 2019 Publicly Released: May. 13, 2019
IASB
20 May 2019
Four new members appointed to the IFRS Interpretations Committee
17 May 2019
IFRS 17 podcast on May IASB meeting now available
17 May 2019
May IASB Update published
14 May 2019
Management Commentary Consultative Group meeting summary available
IRS
LB&I Announces Large Corporate Compliance Program
IR-2019-95, May 16, 2019 — The Internal Revenue Service today announced a key advancement in how it identifies its biggest and most complex large corporations.
IRS seeks grant applications for Tax Counseling for the Elderly Program
IR-2019-94, May 16, 2019 – The Internal Revenue Service is now accepting applications for the Tax Counseling for the Elderly (TCE) grant program.
IRS statement and instructions regarding recent software outage
May 14, 2019 — The IRS has been working closely with CCH to ease the impact on taxpayers caused by their recent software outage.
SEC
Jury Rules in SEC’s Favor, Finds Brokerage Firm and Two of Its Executives Liable for Fraud
Washington D.C., May 15, 2019 —Jurors in Manhattan federal court today returned a verdict in the Securities and Exchange Commission’s favor against a brokerage firm and two of its executives. The SEC charged the brokerage firm, Portfolio Advisors Alliance Inc. (PAA), Howard J. Allen, the indirect owner of PAA, and Kerri L. Wasserman, PAA’s president, with fraud and related charges in connection with making material misrepresentations and omissions in American Growth Funding II LLC (AGF II)’s private placement offering. The SEC alleged that AGF II, which raised capital from investors to provide loans to businesses, and its owner, Ralph C. Johnson, promised investors 12 percent annual returns and falsely claimed in offering documents that its financial statements were being audited each year. The SEC further alleged that PAA, Allen, and Wasserman knew the offering documents were inaccurate yet continued using them to solicit sales of AGF II securities.
TIGTA
Status of the Office of Chief Counsel’s Issuance of Tax Cuts and Jobs Act Guidance [PDF]
Highlights