Regulatory Roundup - October 1-10
CBO
Report
CBO’s Recent Publications and Work in Progress as of September 30, 2022
In this report, the latest in a quarterly series, CBO highlights its recent work and summarizes its work in progress.
Blog Post
Recent Work
CBO’s Director, Phillip Swagel, discusses the agency's recent work.
Cost Estimate
S. 1541, Martha Wright-Reed Just and Reasonable Communications Act of 2022
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on March 22, 2022
Cost Estimate
H.R. 4330, PRESS Act
As Passed by the U.S. House of Representatives on September 19, 2022
Cost Estimate
H.R. 7077, Empowering the U.S. Fire Administration Act
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on August 3, 2022
Cost Estimate
H.R. 8801, DHS Joint Task Force Reauthorization Act of 2022
As ordered reported by the House Committee on Homeland Security on September 14, 2022
Cost Estimate
H.R. 6630, Legislation to Name United States Post Offices
As ordered reported by the House Committee on Oversight and Reform on September 20, 2022
Cost Estimate
H.R. 6631, Legislation to Name United States Post Offices
As ordered reported by the House Committee on Oversight and Reform on September 20, 2022
Cost Estimate
H.R. 7082, Legislation to Name United States Post Offices
As ordered reported by the House Committee on Oversight and Reform on September 20, 2022
Cost Estimate
H.R. 7832, Legislation to Name United States Post Offices
As ordered reported by the House Committee on Oversight and Reform on September 20, 2022
Cost Estimate
H.R. 7988, Legislation to Name United States Post Offices
As ordered reported by the House Committee on Oversight and Reform on September 20, 2022
Cost Estimate
H.R. 8226, Legislation to Name United States Post Offices
As ordered reported by the House Committee on Oversight and Reform on September 20, 2022
Cost Estimate
H.R. 8370, Legislation to Name United States Post Offices
As ordered reported by the House Committee on Oversight and Reform on September 20, 2022
Cost Estimate
H.R. 8630, Legislation to Name United States Post Offices
As ordered reported by the House Committee on Oversight and Reform on September 20, 2022
Report
CBO’s Use of the Income and Payroll Tax Offset in Its Budget Projections and Cost Estimates
CBO explains why it uses an income and payroll tax offset when estimating the budgetary effects of changes in indirect taxes, how the rate of the offset is set, and how it is applied in cost estimates and in baseline projections of revenues.
Cost Estimate
H.R. 7778, Department of Homeland Security Seal Protection Act of 2022
As reported by the House Committee on Homeland Security on July 28, 2022
Cost Estimate
H.R. 2800, Working to Integrate Networks Guaranteeing Member Access Now Act
As ordered reported by the House Committee on Veterans’ Affairs on September 21, 2022
Cost Estimate
H.R. 291, Department of Veterans Affairs Creation of On-Site Treatment Systems Affording Veterans Improvements and Numerous General Safety Enhancements Act
As ordered reported by the House Committee on Veterans’ Affairs on July 19, 2022
Cost Estimate
H.R. 4134, Keeping Girls in School Act
As ordered reported by the House Committee on Foreign Affairs on July 28, 2022
Report
Effect of the Pension Benefit Guaranty Corporation’s Final Rule on Special Financial Assistance
CBO responds to a request for information on the effects of a final rule issued in July 2022 by the Pension Benefit Guaranty Corporation regarding special financial assistance provided to pension plans under the American Rescue Plan Act.
FASB
Private Company Council Meeting Recap—September 22-23, 2022
October 6, 2022
FASB Seeks Input on Proposal to Improve Segment Reporting
October 6, 2022
Financial Accounting Standards Advisory Council Meeting Recap—September 20, 2022
October 3, 2022
GAO
Federal Real Property
GSA Should Leverage Lessons Learned from New Sale and Transfer Process
GAO-23-104815
Published: Oct 07, 2022.
Publicly Released: Oct 07, 2022.
What GAO Found The Federal Assets Sale and Transfer Act of 2016 (FASTA) established a new, temporary three-round process for reducing the federal government's inventory of federal civilian real property. Stakeholders in this process include the temporary Public Buildings Reform Board (Board), the General...
Special Operations Forces
Better Data Necessary to Improve Oversight and Address Command and Control Challenges
GAO-23-105163
Published: Oct 05, 2022.
Publicly Released: Oct 05, 2022.
What GAO Found U.S. Special Operations Command (USSOCOM) has established a variety of command and control (C2) structures to manage its Special Operations Forces (SOF). In calendar year 2021, USSOCOM reported that it had 28 active SOF C2 structures, primarily in the Middle East (Central Command) and...
Senate Stationery Room Revolving Fund
Procedures Related to FY 2020 Receipts and Disbursements
GAO-23-105232
Published: Oct 05, 2022.
Publicly Released: Oct 05, 2022.
What GAO Found GAO performed agreed-upon procedures solely to assist the Secretary of the Senate in ascertaining whether the Senate Stationery Room Revolving Fund's (Fund) fiscal year 2020 receipts and disbursements were supported by information from the Senate Stationery Room and the Senate Disbursing...
Workforce Diversity
Hispanic Workers Are Underrepresented in the Media, and More Data Are Needed for Federal Enforcement Efforts
GAO-22-104669
Published: Sep 29, 2022.
Publicly Released: Oct 05, 2022.
Para la versión de esta página en español, ver a GAO-22-105886. También, la transcripción del episodio de podcast relacionado incluye versiones en inglés y español. What GAO Found Hispanic workers are underrepresented in the media industry compared to their representation in the rest of the U.S....
Diversidad en la fuerza laboral
Los trabajadores hispanos están infrarrepresentados en los medios de comunicación y se necesitan más datos para aplicar la normativa federal
GAO-22-105886
Published: Sep 29, 2022.
Publicly Released: Oct 05, 2022.
This is the Spanish language highlights associated with GAO-22-104669. También, la transcripción del episodio de podcast relacionado incluye versiones en inglés y español. Conclusiones de la GAO Los trabajadores hispanos están infrarrepresentados en el sector de los medios de comunicación si se...
Tracking the Funds
Specific Fiscal Year 2022 Provisions for Department of Justice
GAO-23-105893
Published: Oct 04, 2022.
Publicly Released: Oct 04, 2022.
What GAO Found The Consolidated Appropriations Act, 2022 appropriated approximately $296.5 million to the Department of Justice (DOJ) for 368 projects at the request of Members of Congress. The act includes specific provisions that designate an amount of funds for a particular recipient to use for a...
Tracking the Funds
Specific Fiscal Year 2022 Provisions for Department of Health and Human Services
GAO-23-105897
Published: Oct 04, 2022.
Publicly Released: Oct 04, 2022.
What GAO Found The Consolidated Appropriations Act, 2022 appropriated about $1.3 billion to the Department of Health and Human Services (HHS) for 901 projects at the request of Members of Congress. The act includes specific provisions that designate an amount of funds for a particular recipient to use...
Ransomware
Federal Agencies Provide Useful Assistance but Can Improve Collaboration
GAO-22-104767
Published: Sep 14, 2022.
Publicly Released: Oct 04, 2022.
What GAO Found Ransomware is a form of malicious software designed to encrypt files on a device and render data and systems unusable. Malicious actors then demand ransom payments in exchange for restoring access to the locked data and systems. A ransomware attack is not a single event but occurs in stages...
Tracking the Funds
Specific Fiscal Year 2022 Provisions for U.S. Department of Agriculture
GAO-23-105913
Published: Oct 04, 2022.
Publicly Released: Oct 04, 2022.
What GAO Found The Consolidated Appropriations Act, 2022 designated $405.2 million to the U.S. Department of Agriculture (USDA) for 287 projects at the request of Members of Congress. The act includes specific provisions that designate an amount of funds for a particular recipient to use for a specific...
Tracking the Funds
Specific Fiscal Year 2022 Provisions for Small Business Administration
GAO-23-105907
Published: Oct 04, 2022.
Publicly Released: Oct 04, 2022.
What GAO Found The Consolidated Appropriations Act, 2022 appropriated $83 million to the Small Business Administration (SBA) for 128 projects at the request of Members of Congress. The act includes specific provisions that designate an amount of funds for a particular recipient to use for a specific...
Tracking the Funds
Specific Fiscal Year 2022 Provisions for Department of Defense
GAO-23-105914
Published: Oct 04, 2022.
Publicly Released: Oct 04, 2022.
What GAO Found The Consolidated Appropriations Act, 2022 appropriated $1.29 billion to the Department of Defense (DOD) for 87 projects at the request of Members of Congress. The act includes specific provisions that designate an amount of funds for a particular recipient to use for a specific project....
Tracking the Funds
Specific Fiscal Year 2022 Provisions for Department of Housing and Urban Development
GAO-23-105902
Published: Oct 04, 2022.
Publicly Released: Oct 04, 2022.
What GAO Found The Consolidated Appropriations Act, 2022 appropriated approximately $1.5 billion to the Department of Housing and Urban Development (HUD) for 1,014 projects at the request of Members of Congress. The act includes specific provisions that designate an amount of funds for a particular recipient...
IASB
Watch new webcasts explaining the IASB’s project on Dynamic Risk Management
Webcast
10 Oct 2022
October 2022 International Accounting Standards Board agenda and meeting papers now available
Meeting
7 Oct 2022
October 2022 International Sustainability Standards Board agenda and meeting papers now available
Meeting
7 Oct 2022
IFRS Foundation call for nominations for Trustee positions commencing on 1 January 2024
Careers
6 Oct 2022
IASB publishes 2023 dates for student visits
Foundation visit
6 Oct 2022
Forthcoming webinar on IASB’s Primary Financial Statements project
Webinar
4 Oct 2022
October 2022 SME Implementation Group agenda and meeting paper now available
Meeting
4 Oct 2022
September 2022 IASB meeting podcast available
Podcast
3 Oct 2022
New members join the Global Preparers Forum
Appointment
3 Oct 2022
Meeting summary published for the September 2022 joint IASB–FASB education meeting
Update
2 Oct 2022
September 2022 monthly news summary
News summary
30 Sep 2022
IRS
IRS: Don’t miss this important Oct. 17 tax extension deadline
IR-2022-175, October 7, 2022 — The Internal Revenue Service today reminds taxpayers who requested an extension to file their 2021 tax return to do so by Monday, October 17.
October FBAR extension deadline nears for foreign bank and financial account holders
IR-2022-174, October 6, 2022 — The Internal Revenue Service today reminds U.S. citizens, resident aliens and domestic legal entities that the extension deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is October 15. For additional information about filing deadlines, filers should look to Financial Crimes Enforcement Network’s (FinCEN) website.
IRS: Hurricane Ian victims in the Carolinas qualify for tax relief; Oct. 17 deadline, other dates extended to Feb. 15
IR-2022-173, October 5, 2022 — Hurricane Ian victims throughout both North Carolina and South Carolina now have until February 15, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced today. This is similar to relief announced last week for Ian victims in Florida.
IRS asks for comments on upcoming energy guidance
IR-2022-172, October 5, 2022 — The Internal Revenue Service today issued six notices asking for comments on different aspects of extensions and enhancements of energy tax benefits in the Inflation Reduction Act.
IRS announces 2023 Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program Grants
IR-2022-171, October 4, 2022 — The Internal Revenue Service recently awarded $41 million in Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grants to organizations that provide free federal tax return preparation.
IRS Appeals revises initial contact letters as part of effort to enhance the taxpayer experience
IR-2022-170, October 4, 2022 — The Internal Revenue Service Independent Office of Appeals is taking important steps to improve how taxpayers interact and communicate with the IRS by revising their initial contact letters.
NYS
DFS Superintendent Adrienne A. Harris Announces Settlement with Rhinebeck Bank to Resolve Fair Lending Violations Concerning Auto Loans
2022-10-06
Superintendent Adrienne A. Harris Relaunches Consumer Protection Advisory Council with Expanded Membership
2022-10-03
Governor Hochul Issues Proclamation Designating October As Cybersecurity Awareness Month and Highlights Resources For Small Businesses and New Yorkers
2022-10-03
PCAOB
PCAOB Chair Williams Delivers Remarks at UCI Audit Committee Summit
Oct. 7, 2022
PCAOB Announces Agenda for October 12 Meeting of Its Investor Advisory Group
Oct. 6, 2022
Following Sweep, PCAOB Sanctions Four Audit Firms for Failing to Disclose Who Worked on Audits
Oct. 4, 2022
SEC
SEC Reopens Comment Periods for Several Rulemaking Releases Due to Technological Error in Receiving Certain Comments
2022-186, Oct. 7, 2022 — The Securities and Exchange Commission today reopened the public comment periods for 11 Commission rulemaking releases and one request for comment due to a technological error that resulted in a number of public comments submitted through the Commission’s internet comment form not being received by the Commission. The majority of the affected comments were submitted in August 2022; however, the technological error is known to have occurred as early as June 2021.
Small Business Advisory Committee to Host Meeting to Discuss Entrepreneurship Hubs and the IPO Market
2022-185 , Oct. 6, 2022 — The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee today released the agenda for its meeting on Thursday, Oct. 13, which will address entrepreneurship hubs and recent trends in taking a company public. Members of the public can watch the live meeting via webcast on www.sec.gov.
SEC to Spotlight Financial Planning and Resilience during World Investor Week 2022
2022-184, Oct. 3, 2022 — The Securities and Exchange Commission today announced that it will highlight the importance of long-term planning and investor resilience during World Investor Week (WIW) 2022, which takes place October 3-9. Planning for life’s unexpected challenges, being mindful of economic conditions, and creating an investment portfolio for the long term help investors set strong foundations to build their financial futures.
SEC Charges Kim Kardashian for Unlawfully Touting Crypto Security
2022-183, Oct. 3, 2022 — The Securities and Exchange Commission today announced charges against Kim Kardashian for touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion. Kardashian agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate with the Commission’s ongoing investigation.
TIGTA
More Information Is Needed to Make Informed Decisions on Streamlined Applications for Tax Exemption
October 3, 2022
Review of the IRS's Enforcement Program for Tax-Exempt Organizations That Participate in Illegal or Nonexempt Activities
September 29, 2022
Mainframe Platform Configuration Compliance Controls Need Improvement
September 30, 2022
The IRS Needs to Improve Its Database Vulnerability Scanning and Patching Controls
September 30, 2022