Regulatory Roundup - March 30 - April 5
AICPA
Press Release
Congress’ Call to Extend Deadline for Estimated Taxes Intensifies
AICPA has called for the IRS to reconcile the deadline postponement to include estimated payments. This week, that call was echoed by 60 Members of Congress in a bipartisan letter to IRS Commr. Rettig
April 1, 2021
CBO
Report
Projected Acquisition Costs for the Army’s Ground Combat Vehicles
April 1, 2021
This report provides CBO’s projections of the Army’s costs to acquire tanks and other ground combat vehicles through 2050. On the basis of the Army’s plans, those costs are projected to average about $5 billion annually.
Cost Estimate
April 1, 2021
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on March 17, 2021
Cost Estimate
H.R. 1850, Supporting Research and Development for First Responders Act
March 31, 2021
As ordered reported by the House Committee on Homeland Security on March 18, 2021
Cost Estimate
S. 615, Trans-Sahara Counterterrorism Partnership Program Act of 2021
March 31, 2021
As ordered reported by the Senate Committee on Foreign Relations on March 24, 2021
Cost Estimate
H.R. 1211, American Values and Security in International Athletics Act
As ordered reported by the House Committee on Foreign Affairs on February 25, 2021
Cost Estimate
H.R. 1833, DHS Industrial Control Systems Capabilities Enhancement Act of 2021
As ordered reported by the House Committee on Homeland Security on March 18, 2021
Cost Estimate
H.R. 567, Trans-Sahara Counterterrorism Partnership Program Act of 2021
As ordered reported by the House Committee on Foreign Affairs on February 25, 2021
Cost Estimate
S. 325, A bill to amend the Alyce Spotted Bear and Walter Soboleff Commission on Native Children Act to extend the deadline for a report by the Alyce Spotted Bear and Walter Soboleff Commission on Native Children, and for other purposes
As ordered reported by the Senate Committee on Indian Affairs on
March 10, 2021
Cost Estimate
S. 522, Providing Accountability Through Transparency Act of 2021
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on March 17, 2021
FASB
Representatives of the Financial Accounting Standards Board
and the Accounting Standards Board of Japan Hold Biannual Meeting [03/31/21]
News Release
FASB Provides Alternative to the Goodwill Triggering Event Assessment for Certain Private Companies and Organizations [03/30/21]
Media Advisory
ASU 2021-03
GAO
Haiti
USAID Funding for Reconstruction and Development Activities since the 2010 Earthquake
GAO-21-263
Published: Apr 01, 2021.
Publicly Released: Apr 01, 2021.
What GAO Found Since 2010, when a catastrophic earthquake struck Haiti, the U.S. has provided assistance to support the country's reconstruction and development. As of September 30, 2020, the U.S.
Information on Benefits and Funding Challenges for Service in Less Urbanized Communities
GAO-21-355R
Published: Apr 01, 2021.
Publicly Released: Apr 01, 2021.
What GAO Found Commuter rail is a widely used public transit alternative to driving between suburban communities and city centers, and in many areas of the country, transit agencies have extended their service areas further out from city centers to less urbanized communities.
Observations on Lobbyists' Compliance with Disclosure Requirements
GAO-21-375
Published: Apr 01, 2021.
Publicly Released: Apr 01, 2021.
What GAO Found For the 2020 reporting period, most lobbyists provided documentation for key elements of their disclosure reports to demonstrate compliance with the Lobbying Disclosure Act of 1995, as amended (LDA).
Released on Mar. 31, 2021
Sustained Federal Action Is Crucial as Pandemic Enters Its Second Year
GAO-21-387
Published: Mar 31, 2021.
Publicly Released: Mar 31, 2021.
What GAO Found More than a year after the U.S. declared COVID-19 a public health emergency, the pandemic continues to result in catastrophic loss of life and substantial damage to the global economy, stability, and security.
OMB Should Collect and Share Lessons Learned from Use of COVID-19-Related Grant Flexibilities
GAO-21-318
Published: Mar 31, 2021.
Publicly Released: Mar 31, 2021.
What GAO Found In March and April 2020, the Office of Management and Budget (OMB) identified 15 exceptions to government-wide grants management requirements agencies could make available to grantees and grant applicants.
More Information Needed to Assess Efficacy and Costs of Vessel Survival Craft Requirements
GAO-21-247
Published: Mar 31, 2021.
Publicly Released: Mar 31, 2021.
What GAO Found Coast Guard data show that during fiscal years 2010 through 2019 most people survived vessel accidents, and out-of-water survival craft, such as a lifeboat, was used more often than other types of lifesaving equipment.
Information on Federal Contributions to Remdesivir
GAO-21-272
Published: Mar 31, 2021.
Publicly Released: Mar 31, 2021.
What GAO Found Between 2013 and 2020, the Centers for Disease Control and Prevention (CDC), the Department of Defense (DOD), and the National Institutes of Health (NIH) conducted and funded preclinical research collaborations with Gilead Sciences, Inc.
Patient-Centered Outcomes Research Institute
Review of the Audit of the Financial Statements for FY 2020
GAO-21-392R
Published: Mar 31, 2021.
Publicly Released: Mar 31, 2021.
What GAO Found Based on the limited procedures GAO performed in reviewing the independent public accounting firm's (IPA) financial audit of the Patient-Centered Outcomes Research Institute's (PCORI) fiscal year 2020 financial statements, GAO did not identify any significant issues related to the financial...
The Office of Justice Programs Could Improve the Quality of a Key Fraud Control
GAO-21-302
Published: Mar 31, 2021.
Publicly Released: Mar 31, 2021.
What GAO Found The Department of Justice's (DOJ) Office of Justice Programs (OJP) assigned inaccurate monitoring priority levels for some Office of Juvenile Justice and Delinquency Prevention (OJJDP) grants from fiscal year 2017 through 2019 through its Grant Assessment Tool (GAT).
Procurement Technical Assistance Program
Opportunities Exist for DOD to Enhance Training and Collaboration
GAO-21-287
Published: Mar 31, 2021.
Publicly Released: Mar 31, 2021.
What GAO Found The Defense Logistics Agency (DLA) of the Department of Defense administers and oversees the Procurement Technical Assistance Program (PTAP), which funds Procurement Technical Assistance Centers (PTAC) that provide counseling and training to businesses interested in government contracting....
Procurement Technical Assistance Program
Opportunities Exist for DOD to Enhance Training and Collaboration
GAO-21-287
Published: Mar 31, 2021.
Publicly Released: Mar 31, 2021.
What GAO Found The Defense Logistics Agency (DLA) of the Department of Defense administers and oversees the Procurement Technical Assistance Program (PTAP), which funds Procurement Technical Assistance Centers (PTAC) that provide counseling and training to businesses interested in government contracting....
Released on Mar. 30, 2021
GAO-21-305R
Published: Mar 30, 2021.
Publicly Released: Mar 30, 2021.
What GAO Found During GAO's audit of the Schedules of Federal Debt managed by the Department of the Treasury's Bureau of the Fiscal Service (Fiscal Service) for the fiscal years ended September 30, 2020, and 2019, GAO determined that information system control deficiencies—primarily unresolved deficiencies...
Genomic Sequencing Of Infectious Pathogens
GAO-21-426SP
Published: Mar 30, 2021.
Publicly Released: Mar 30, 2021.
Why this Matters Genomic sequencing reveals the genetic code of an infectious disease pathogen, such as SARS-CoV-2, the virus that causes COVID-19.
Micro, Small, and Medium-Sized Enterprise Development
USAID Needs to Develop a Targeting Process and Improve the Reliability of Its Monitoring
GAO-21-269
Published: Mar 30, 2021.
Publicly Released: Mar 30, 2021.
What GAO Found For fiscal years 2015 through 2020, the U.S. Agency for International Development (USAID) generally planned to spend at least $265 million annually on micro, small, and medium-sized enterprise (MSME) assistance, according to annual reports to Congress known as Section 653(a) reports.
Use of Data to Verify Eligibility Varies Among Selected Programs and Opportunities Exist to Promote Additional Use
National Labor Relations Board
What GAO Found The National Labor Relations Board (NLRB) obligated most of its appropriations in fiscal years 2010 through 2017 on handling complaints of unfair labor practices and for conducting union representation elections; however, the agency has experienced a recent growth in unobligated funds.
West Bank and Gaza Aid
Published: Mar 29, 2021.
Publicly Released: Mar 29, 2021.
What GAO Found The U.S. government has provided assistance to Palestinians in the West Bank and Gaza to promote Middle East peace since 1993, in part through programs administered by the U.S. Agency for International Development (USAID) and funded by the Economic Support Fund (ESF).
Most States Have Good Samaritan Laws and Research Indicates They May Have Positive Effects
What GAO Found The Office of National Drug Control Policy (ONDCP) has taken multiple actions to track, study, and share information about Good Samaritan laws, which protect individuals who call for medical assistance for an overdose victim, and Naloxone Access laws, which protect individuals who administer...
IASB
01 April 2021
CMAC and GPF March 2021 meeting summaries available
April 2021 IFRS Advisory Council agenda and agenda papers available
March 2021 monthly news summary
IFRS Foundation publishes 2020 Annual Report
IASB extends support for lessees accounting for covid-19-related rent concessions
IASB seeks comments to help shape its five-year plan
IR-2021-74, April 2, 2021 — The Internal Revenue Service today issued guidance for employers claiming the Employee Retention Credit under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) modified by the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (Relief Act).
Join the Taxpayer Advocacy Panel and help improve the IRS; apply by May 14
IR-2021-73, April 2, 2021 — The Internal Revenue Service today announced it is seeking civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP).
IR-2021-72, April 1, 2021 — Today, the Internal Revenue Service, the U.S. Department of the Treasury and the Bureau of the Fiscal Service announced they are disbursing several million more payments in the third batch of Economic Impact Payments from the American Rescue Plan.
IRS to recalculate taxes on unemployment benefits; refunds to start in May
IR-2021-71, March 31, 2021 — To help taxpayers, the Internal Revenue Service announced today that it will take steps to automatically refund money this spring and summer to people who filed their tax return reporting unemployment compensation before the recent changes made by the American Rescue Plan.
Emergency aid granted to students due to COVID is not taxable
IR-2021-70, March 30, 2021 — The Internal Revenue Service issued frequently asked questions today on how students and higher education institutions should report pandemic-related emergency financial aid grants.
IR-2021-69, March 30, 2021 — As work continues on issuing millions of Economic Impact Payments to Americans, the Internal Revenue Service and Treasury Department announced today that they anticipate payments will begin to be issued this weekend to Social Security recipients and other federal beneficiaries who do not normally file a tax return, with the projection that the majority of these payments would be sent electronically and received on April 7.
IRS warns university students and staff of impersonation email scam
IR-2021-68, March 30, 2021 — The Internal Revenue Service today warned of an ongoing IRS-impersonation scam that appears to primarily target educational institutions, including students and staff who have “.edu” email addresses.
IRS extends additional tax deadlines for individuals to May 17
NYS
Two Monroe County Business Owners Plead Guilty to Stealing Sales Tax
April 2, 2021
Take Advantage of Extra Time to File by Registering for a Free Tax-Filing Assistance Session
March 30, 2021
SEC
SEC Awards Over $500,000 to Whistleblower Under "Safe Harbor" for Internal Reporting and Surpasses Record for Individual Award
2021-54 , March 29, 2021 — The Securities and Exchange Commission awarded more than $500,000 to a whistleblower who raised concerns internally before submitting a tip to the Commission. The whistleblower's information and assistance allowed the Commission and another agency to quickly file actions, shutting down an ongoing fraudulent scheme.