AICPA

AICPA Requests IRS Broaden and Automate Relief for All Disasters
March 29, 2023

AICPA Comments on Interim Guidance Regarding Application of CAMT
March 27, 2023

CBO

Cost Estimate
H.R. 1343, ITS Codification Act
April 3, 2023
As ordered reported by the House Committee on Energy and Commerce on March 24, 2023

Cost Estimate
H.J. Res. 42, a joint resolution disapproving the action of the District of Columbia Council in approving the Comprehensive Policing and Justice Reform Amendment Act of 2022
March 31, 2023
As ordered reported by the House Committee on Oversight and Accountability on March 29, 2023

Cost Estimate
H.R. 187, Default Prevention Act
March 31, 2023
As ordered reported by the House Committee on Ways and Means on March 9, 2023

Cost Estimate
S. 113, Prescription Pricing for the People Act of 2023
March 31, 2023
As ordered reported by the Senate Committee on the Judiciary on February 9, 2023

Presentation
An Overview of CBO’s Role in Assessing Climate Change
March 30, 2023
Presentation by Joseph Kile, CBO’s Director of Microeconomic Analysis, to The Australian Treasury's Macroeconomic Group.

Presentation
U.S. Macroeconomic & Fiscal Outlook
March 29, 2023
Presentation by Phillip Swagel, CBO’s Director, at the Annual Economic Policy Conference of the National Association for Business Economics.

Blog Post
CBO Releases Infographics About the Federal Budget in Fiscal Year 2022
March 28, 2023
View CBO’s budget infographics to see how much the federal government spent and took in during fiscal year 2022, as well as broader trends in the budget over the past few decades.

Graphic
Discretionary Spending in Fiscal Year 2022: An Infographic
March 28, 2023
Discretionary outlays by the federal government totaled $1.7 trillion in 2022. Nondefense outlays were higher than those for defense activities partly because of spending for programs enacted in response to the coronavirus pandemic.

Cost Estimate
Estimated Budgetary Effects of Divisions A and B of H.R. 1, the Lower Energy Costs Act, as modified by Amendment 154, the Manager's Amendment
March 28, 2023
As posted on the website of the House Committee on Rules on March 14, 2023 and March 27, 2023.

Graphic
Mandatory Spending in Fiscal Year 2022: An Infographic
March 28, 2023
Mandatory outlays by the federal government totaled $4.1 trillion in 2022; nearly half was for Social Security and Medicare. The largest increases over the past 20 years have been for the major health care programs and student loans.

Blog Post
Presentations
March 28, 2023
CBO Director Phillip Swagel discusses his recent and upcoming presentations on CBO’s latest budget and economic projections.

Graphic
Revenues in Fiscal Year 2022: An Infographic
March 28, 2023
Revenues received by the federal government in 2022 totaled $4.9 trillion, of which more than half was receipts from individual income taxes, which were the highest ever as a percentage of gross domestic product.

Graphic
The Federal Budget in Fiscal Year 2022: An Infographic
March 28, 2023
The federal deficit in 2022 was $1.4 trillion, equal to 5.5 percent of gross domestic product, almost 2 percentage points greater than the average over the past 50 years.

Interactive
Workbook for How Changes in Economic Conditions Might Affect the Federal Budget: 2023 to 2033
March 28, 2023
This workbook allows users to define and analyze alternative economic scenarios by specifying differences in the values of four economic variables relative to the values underlying CBO's February 2023 projections.

Cost Estimate
S. 385, a bill to amend the Native American Tourism and Improving Visitor Experience Act to authorize grants to Indian tribes, tribal organizations, and Native Hawaiian organizations, and for other purposes
March 27, 2023
As ordered reported by the Senate Committee on Indian Affairs on February 15, 2023

FASB

Financial Accounting Standards Advisory Council Meeting Recap—March 7, 2023
March 31, 2023

FASB Improves Accounting for Investments in Tax Credit Structures
March 29, 2023

GAO

2022 Lobbying Disclosure:
Observations on Compliance with Requirements
GAO-23-105989
Published: Mar 31, 2023
Publicly Released: Mar 31, 2023
The Lobbying Disclosure Act requires paid lobbyists to file reports on their lobbying activity, on whether they previously held certain government positions, and more. We assess their compliance by reviewing a sample of reports, interviewing the lobbyists who filed them, and cross-checking information. As in past years, most lobbyists filed the required reports and were able to provide supporting documentation. But, 27% of the reports...

Animal Use in Research:
NIH Should Strengthen Oversight of Projects It Funds at Foreign Facilities
GAO-23-105736
Published: Mar 30, 2023
Publicly Released: Mar 30, 2023
The National Institutes of Health provided $2.2 billion in contracts or grants in FYs 2011-2021 to foreign organizations for research involving animals. Foreign facilities conducting this research must follow U.S. or international animal welfare standards. NIH relies on annual reports submitted by funding recipients to monitor the foreign research facilities' compliance with these standards. But NIH doesn't verify the reliability of the information in these...

IT Management:
VA Needs to Improve CIO Oversight of Procurements
GAO-23-105719
Published: Mar 30, 2023
Publicly Released: Mar 30, 2023
The Department of Veterans Affairs spends billions of dollars each year on IT to help manage veterans' benefits and deliver health care. According to federal laws and guidance, VA's Chief Information Officer (CIO) should be fully accountable for IT acquisition and management decisions. CIO oversight helps ensure that IT acquisitions aren't poorly planned or duplicative. Our review of 26 IT contract awards from fiscal year...

Weapon System Sustainment:
The Army and Air Force Conducted Reviews and the Army Identified Operating and Support Cost Growth
GAO-23-106341
Published: Mar 30, 2023
Publicly Released: Mar 30, 2023
DOD spends billions of dollars a year to operate and maintain its weapon systems—such as aircraft or ships—to ensure it can meet the military's needs today and in the future. These "sustainment" costs—expenses for repairs, for example—account for approximately 70% of a weapon system's total cost. DOD reports to Congress on these costs annually. We looked at DOD's FY 2021 sustainment reviews and found that...

Fusion Energy:
Potentially Transformative Technology Still Faces Fundamental Challenges
GAO-23-105813
Published: Mar 30, 2023
Publicly Released: Mar 30, 2023
Nuclear fusion could produce electricity without carbon emissions or long-lasting nuclear waste. A 2022 experiment achieved a key milestone on the path to viable fusion energy: it was the first experiment in which the fusion reaction produced more energy than the energy injected into it. However, this technology faces challenges before it can produce commercial electricity. For example, new materials will need to be developed...

Financial Audit:
Bureau of the Fiscal Service's FY 2022 Schedules of the General Fund
GAO-23-104786
Published: Mar 30, 2023
Publicly Released: Mar 30, 2023
Treasury's Fiscal Service manages the General Fund, which finances daily and long-term government operations. In FY 2022, $23.2 trillion flowed into the General Fund and $22.8 trillion flowed out of it. Fiscal Service continued to make progress in addressing the issues identified in our prior audits. However, we don't have enough information to give an opinion on the reliability of the FY 2022 Schedules because...

Overseas Nuclear Material Security:
A Comprehensive National Strategy Could Help Address Risks of Theft and Sabotage
GAO-23-106486
Published: Mar 30, 2023
Publicly Released: Mar 30, 2023
Some countries have inadequate security at their nuclear facilities making them vulnerable to sabotage and the nuclear materials within them vulnerable to theft. The National Nuclear Security Administration (NNSA), DOD, and other agencies are working to help secure international nuclear materials. For instance, the U.S. is helping other countries increase facility security and counter nuclear smuggling around the world. But we found that a few...

Power Marketing Administrations:
Additional Steps Are Needed to Better Manage Climate-Related Risks
GAO-23-106224
Published: Mar 29, 2023
Publicly Released: Mar 30, 2023
Four "power marketing administrations" sell electricity generated from federal hydropower dams to public utilities, rural cooperatives, and Indian Tribes in over 30 states. The four entities face a number of climate-related risks to their operations. For example, decreasing water availability that resulted from droughts could reduce the amount of electricity generated from dams—affecting their ability to provide power. In 2022, two of the administrations identified...

Utility-Scale Energy Storage:
Technologies and Challenges for an Evolving Grid
GAO-23-105583
Published: Mar 30, 2023
 Publicly Released: Mar 30, 2023
The U.S. electricity grid was designed to generate electricity and deliver it almost immediately to customers—very little is stored. Adding more energy storage could have benefits, like helping utilities Meet demand during supply disruptions Recover faster after outages Support renewable energy by storing power when natural sources—like wind and sunlight—are abundant and releasing it when they are not But it can be hard to put...

Improper Payments:
Fiscal Year 2022 Estimates and Opportunities for Improvement
GAO-23-106285
Published: Mar 29, 2023
Publicly Released: Mar 29, 2023
In fiscal year 2022, federal agencies made an estimated $247 billion in payment errors—either payments that should not have been made or that were made in the incorrect amount. Overpayments accounted for about $200 billion of the total. But the total doesn't yet include estimates for certain risky programs, like the Pandemic Unemployment Assistance Program and the Supplemental Nutrition Assistance Program. This report—the first in...

Child Care:
Subsidy Eligibility and Use in Fiscal Year 2019 and State Program Changes During the Pandemic
GAO-23-106073
Published: Mar 29, 2023
Publicly Released: Mar 29, 2023
Many families struggle to access high-quality, affordable child care. Federal funds help states assist low-income families with child care expenses. But states subsidized care for only about 2 million of the nearly 8.7 million children eligible in FY19. The COVID-19 pandemic financially strained working families and child care providers. Six of the 7 state child care administrators we interviewed said that during the pandemic their...

Tactical Aircraft:
Technical, Delivery, and Affordability Challenges Complicate DOD's Ability to Upgrade Its Aging Fleet
GAO-23-106694
Published: Mar 29, 2023
Publicly Released: Mar 29, 2023
The Department of Defense is upgrading its fleet of fighter and attack planes, known as "tactical aircraft." Most of these planes have outlived their planned service lives. We testified about the F-35—a key piece of DOD's fleet modernization efforts. Our ongoing work shows that the F-35 program has delivered over 800 aircraft, but is over a decade behind schedule and $165 billion over original cost...

HUD Rental Assistance:
Serving Households with Disabilities
GAO-23-106339
Published: Mar 29, 2023
Publicly Released: Mar 29, 2023
Finding affordable, accessible rental housing can be difficult for low-income households that have a family member with a disability. The Department of Housing and Urban Development has rental assistance programs that can help. But a lot of affordable housing is aging and has to be modified to work for these families. We looked at HUD's rental assistance programs, how many households with disabilities they served...

Patient-Centered Outcomes Research Institute:
Review of the Audit of the FY 2022 Financial Statements
GAO-23-106478
Published: Mar 29, 2023
Publicly Released: Mar 29, 2023
The Patient-Centered Outcomes Research Institute is a federally funded, nonprofit corporation that was established to fund and evaluate research aimed at helping patients, doctors, and policymakers make better health care decisions. PCORI is required to have its financial statements audited annually, and we're required to review those audits. PCORI's auditor issued an unmodified (clean) opinion on its fiscal year 2022 financial statements, concluding that these...

National Security Snapshot:
DOD Active-Duty Recruitment and Retention Challenges
GAO-23-106551
Published: Mar 28, 2023
Publicly Released: Mar 28, 2023
According to the Department of Defense, only a quarter of Americans between the ages of 17 and 24 can meet military service requirements, such as those for education and physical fitness. So how can DOD maintain the number of active-duty service members it needs for national security? This Snapshot looks at our prior work on military recruitment and retention. We've recommended ways to help DOD...

Oversight of Agency Spending:
Implementing GAO Recommendations Could Help Address Previously Identified Challenges at Commerce, DOE, and EPA
GAO-23-106726
Published: Mar 29, 2023
Publicly Released: Mar 28, 2023
The U.S. Departments of Commerce and Energy and the EPA have received billions in funding in recent years for clean energy, water and infrastructure, and climate resilience programs and projects (among others). This testimony discusses these agencies' challenges with effectively managing such programs and projects, including keeping costs on track. For example, DOE spent $472 million on the definition and design of 4 carbon capture...

Immigrant Investor Program:
Opportunities Exist to Improve Fraud and National Security Risk Monitoring
GAO-23-106452
Published: Mar 28, 2023
Publicly Released: Mar 28, 2023
Under the Immigrant Investor Program, foreign nationals who invest in projects that create or sustain U.S. jobs can get a visa and a path to citizenship. The program presents unique fraud and national security risks for U.S. Citizenship and Immigration Services (USCIS) to address, such as schemes to defraud immigrant investors. While USCIS collects some data on fraud and national security risks, more specific data—such...

National Labor Relations Board:
New Protocols Aim to Prevent Errors When Swearing in Board Members
GAO-23-105889
Published: Mar 28, 2023
Publicly Released: Mar 28, 2023
The National Labor Relations Board is an agency that addresses complaints of unfair labor practices and protects employees' right to unionize. NLRB is headed by a five-member board. Each member of the board is nominated by the President and confirmed by the Senate. After Senate confirmation, board nominees receive a signed presidential commission and are then sworn into office. On August 28, 2021, NLRB mistakenly...

Food Prices:
Information on Trends, Factors, and Federal Roles
GAO-23-105846
Published: Mar 28, 2023
Publicly Released: Mar 28, 2023
From 2021-22, U.S. retail food prices rose by 11%—the largest annual increase in over 40 years. Rising food prices particularly impact low-income consumers, who spend about 30% of their income on food. Many factors influencing the food supply chain can affect retail food prices, such as global trade issues, pandemics, animal and plant disease outbreaks, and war. Federal agencies don't control food prices, but may...

Sustainable Aviation Fuel:
Agencies Should Track Progress Toward Ambitious Federal Goals
GAO-23-105300
Published: Mar 23, 2023
Publicly Released: Mar 27, 2023
To reduce aviation greenhouse gas emissions, the White House issued a "Grand Challenge" that aims to increase the production of sustainable jet fuel to 3 billion gallons per year by 2030. Its goal is also to produce enough fuel to meet 100% of commercial jet fuel demand by 2050. Currently, this fuel is used at two large airports, but accounts for less than 0.1% of...

IASB

Watch two new webcasts on developments in the Dynamic Risk Management project
Webcast
3 Apr 2023

March 2023 monthly news summary now available
News Summary
3 Apr 2023

ISSB to consider prioritisation of climate-related disclosures to support initial application
Meeting
30 Mar 2023

March 2023 IASB podcast now available
Podcast
30 Mar 2023

February 2023 IFRS Taxonomy Consultative Group meeting summary now available
Meeting
29 Mar 2023

April 2023 IFRS Advisory Council agenda and meeting papers now available
Meeting
28 Mar 2023

IRS

Dirty Dozen: Watch out for schemes aimed at high-income filers; Charitable Remainder Annuity Trusts, monetized installment sales carry risk
IR-2023-65, March 31, 2023 — The Internal Revenue Service today cautioned taxpayers to resist questionable tax practitioners and independent promoters selling schemes aimed at wealthy taxpayers.

IRS issues guidance and updates frequently asked questions related to the new clean vehicle critical mineral and battery components
IR-2023-64, March 31, 2023 — The IRS today issued proposed regulations related to certain requirements that must be met for critical minerals and battery components for the new clean vehicle credit.

Dirty Dozen: Watch out for Offer in Compromise ‘mills’ where promoters claim their services are needed to settle IRS debts
IR-2023-63, March 30, 2023 — As part of the annual Dirty Dozen tax scams series, the Internal Revenue Service today renewed a warning about so-called Offer in Compromise “mills” that often mislead taxpayers into believing they can settle a tax debt for pennies on the dollar.

Dirty Dozen: IRS urges tax pros and other businesses to beware of spearphishing; offers tips to avoid dangerous common scams
IR-2023-62, March 29, 2023 —The IRS today warned tax professionals and businesses that they remain a top target for identity thieves and face threats from common scams on this year’s Dirty Dozen list.

Dirty Dozen: Taking tax advice on social media can be bad news for taxpayers; schemes circulating involving tax forms
IR-2023-61, March 28, 2023 — The IRS today continued the Dirty Dozen series with a warning on day seven about trusting tax advice on social media that can lure otherwise honest taxpayers and tax professionals into compromising tax situations.

IRS: Mississippi storm victims qualify for tax relief; April 18 deadline, other dates extended to July 31
IR-2023-60, March 28, 2023 — Mississippi storm victims now have until July 31, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

NYC

New York City Announces Availability of Online Payment Plans for Parking Ticket Debt
March 28, 2023

NYS

Take Advantage of New York’s Triple Play: E-file, Free File, and Direct Deposit
March 28, 2023

Free File Your Income Tax Returns
March 27, 2023

NYS Tax Department Offers Free Tax Filing Help in Albany
March 24, 2923

PCAOB

PCAOB Proposes Modernization of Standards Addressing Core Auditing Principles and Responsibilities
Mar. 28, 2023

PCAOB Sanctions Friedman LLP for Improper Use of Unregistered Chinese Firms
Mar. 27, 2023

SEC

SEC to Highlight Free Investor Education Resources During Financial Capability Month
2023-71
Washington D.C., April 3, 2023 — The Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) today announced that its theme for April’s National Financial Capability Month is, “Investing for everyone.” All month long, SEC leadership and staff will promote the free tools and resources available on Investor.gov and participate in investor education events across the country with various audiences, including students, underrepresented communities, older investors, and the military.

Mark Reinhold Named SEC Chief Human Capital Officer
2023-70
Washington D.C., March 31, 2023 — The Securities and Exchange Commission today announced that Mark D. Reinhold has been named the agency’s Chief Human Capital Officer and Director of the Office of Human Resources. He has served as the acting head of the office since October 2022

SEC Charges Three Executives at U.S. Navy Shipbuilder Austal USA with Accounting Fraud
2023-69
Washington D.C., March 31, 2023 — The Securities and Exchange Commission today charged three executives of Mobile, Alabama-based shipbuilder, Austal USA LLC, for orchestrating a fraudulent revenue recognition scheme that allowed its parent company to meet or exceed analyst expectations.

SEC Awards More Than $12 Million to Two Whistleblowers
2023-68
Washington D.C., March 31, 2023 — The Securities and Exchange Commission today announced awards of more than $12 million to two whistleblowers who provided information and assistance in a successful SEC enforcement action.

SEC to Host Municipal Securities Disclosure Conference
2023-67
Washington D.C., March 31, 2023 — The Securities and Exchange Commission today opened public registration for its Municipal Securities Disclosure Conference, which will be held on May 10, 2023, at the SEC’s headquarters. The conference, held in a hybrid format with both in-person and virtual participation, will bring together a variety of municipal securities market participants, including issuers and investors, to discuss the state of disclosure in the municipal securities market.

SEC Charges Hedge Fund Trader and Broker-Dealer Partner in Multi-Million Dollar SPAC Insider Trading Scheme
2023-66
Washington D.C., March 30, 2023 — The Securities and Exchange Commission today filed insider trading charges against Sean Wygovsky, a former trader at a Canadian asset management firm, and Christopher Matthaei, a former partner at a U.S. broker-dealer, for using nonpublic information in advance of at least seven merger announcements involving Special Purpose Acquisition Companies (SPACs) to earn illicit profits of more than $3.4 million.

SEC Charges Private Fund Auditor and Audit Engagement Partner with Improper Professional Conduct
2023-65
Washington D.C., March 29, 2023 — The Securities and Exchange Commission today announced settled charges against Spicer Jeffries LLP, an audit firm based in Denver, and audit engagement partner Sean P. Tafaro, for their improper professional conduct in connection with audits of two private funds.

SEC Charges Crypto Trading Platform Beaxy and its Executives for Operating an Unregistered Exchange, Broker, and Clearing Agency
2023-64
Washington D.C., March 29, 2023 — The Securities and Exchange Commission today charged the crypto asset trading platform beaxy.com (the Beaxy Platform) and its executives for failing to register as a national securities exchange, broker, and clearing agency. The SEC also charged the founder of the platform, Artak Hamazaspyan, and a company he controlled, Beaxy Digital, Ltd., with raising $8 million in an unregistered offering of the Beaxy token (BXY) and alleged that Hamazaspyan misappropriated at least $900,000 for personal use, including gambling. Finally, the SEC charged market makers operating on the Beaxy Platform as unregistered dealers.

Brazilian Mining Company to Pay $55.9 Million to Settle Charges Related to Misleading Disclosures Prior to Deadly Dam Collapse
2023-63
Washington D.C., March 28, 2023 — The Securities and Exchange Commission today announced that Vale S.A., a publicly traded Brazilian mining company and one of the largest iron ore producers in the world, agreed to pay $55.9 million to settle charges brought last April stemming from the company’s allegedly false and misleading disclosures about the safety of its dams prior to the January 2019 collapse of the Brumadinho dam that killed 270 people. The SEC’s complaint alleged that, for years, the dam did not meet internationally-recognized safety standards even as Vale’s public sustainability reports assured investors that all of its dams were certified as stable.

SEC Obtains Emergency Relief Against Long Island Investment Adviser and Firm Charged with Fraud
2023-62
Washington D.C., March 27, 2023 — The Securities and Exchange Commission today charged former broker Surage Kamal Roshan Perera and his firm, Janues Capital Incorporated, with defrauding at least one investor out of millions by lying about investment opportunities and strategies, concealing trading losses, and using funds received from others to give the victim the promised returns in Ponzi-like fashion. The SEC has obtained emergency relief in court, including a temporary restraining order and an asset freeze.

TIGTA

Significant Progress Has Been Made Implementing the Taxpayer First Act
Report Number 2023-15-022
March 29, 2023

The IRS Eliminated Its Employee Suggestion Program Without Plans for a Replacement
Report Number 2023-30-020
March 29, 2023

The Enterprise Case Management System Did Not Consistently Meet Cloud Security Requirements
Report Number 2023-20-018
March 29, 2023