AICPA

AICPA Responds to IRS Guidance on SECURE 2.0 Act, Catch-Up Contributions
Jan 18, 2024

CBO

Cost Estimate
S. 1573, PREEMIE Reauthorization Act of 2023
January 26, 2024
As reported by the Senate Committee on Health, Education, Labor, and Pensions on October 4, 2023

Cost Estimate
S. 2415, Preventing Maternal Deaths Reauthorization Act of 2023
January 26, 2024
As reported by the Senate Committee on Health, Education, Labor, and Pensions on October 4, 2023

Cost Estimate
H.R. 1121, Protecting American Energy Production Act
January 25, 2024
As ordered reported by the House Committee on Natural Resources on November 8, 2023

Cost Estimate
H.R. 5779, Fiscal Commission Act of 2024
January 25, 2024
As ordered reported by the House Committee on the Budget on January 18, 2024

Cost Estimate
H.R. 7024, Tax Relief for American Families and Workers Act of 2024
January 25, 2024
As reported by the House Committee on Ways and Means on January 23, 2024

Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of January 29, 2024
January 25, 2024
The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. CBO estimates the effects of those bills on direct spending and revenues.

Cost Estimate
H.R. 6952, Fiscal State of the Nation Act
January 24, 2024
As ordered reported by the House Committee on the Budget on January 18, 2024

Cost Estimate
H.R. 6957, Debt-to-GDP Transparency and Stabilization Act
January 24, 2024
As ordered reported by the House Committee on the Budget on January 18, 2024

Cost Estimate
H.R. 443, Enhancing Detection of Human Trafficking Act
January 23, 2024
As ordered reported by the House Committee on Education and the Workforce on January 10, 2024

Cost Estimate
H.R. 5585, Agent Raul Gonzalez Officer Safety Act
January 23, 2024
As ordered reported by the House Committee on the Judiciary on January 18, 2024

Cost Estimate
H.R. 6679, No Immigration Benefits for Hamas Terrorists Act
January 23, 2024
As ordered reported by the House Committee on the Judiciary on January 18, 2024

FAF

Financial Accounting Foundation Launches Redesigned Website for the Financial Accounting Standards Board; Additional Sites Premiere Soon
January 23, 2024

FASB

Financial Accounting Foundation Launches Redesigned Website for the Financial Accounting Standards Board; Additional Sites Premiere Soon
January 23, 2024

GAO

Artificial Intelligence:
GAO's Work to Leverage Technology and Ensure Responsible Use
GAO-24-107237
Published: Jan 30, 2024 . Publicly Released: Jan 29, 2024 .
Artificial intelligence generally refers to computer systems that can solve problems and perform tasks that have traditionally required human intelligence. We testified about how GAO plans to use AI internally to enhance our effectiveness and efficiency. For example, we recently began deployment of a large language model as a tool to synthesize past reports, assist with editorial reviews, and scan congressional documents. By developing such...

2023 Tax Filing:
IRS Improved Customer Service, but Could Further Improve Processing and Evaluate Expedited Hiring
GAO-24-106581
Published: Jan 25, 2024
Publicly Released: Jan 25, 2024
IRS has previously had challenges processing tax returns on time and meeting taxpayer needs. But in 2023, IRS's service showed improvement. Tax filers experienced faster processing times, shorter wait times for phone service, and more in-person options for getting tax help. However, the agency fell short of some of its goals for processing tax returns on time. Also, IRS was able to use a faster...

Paid Parental Leave:
OPM Should Take Steps to Further Raise Awareness of the Program
GAO-24-106654
Published: Jan 25, 2024
Publicly Released: Jan 25, 2024
Starting October 1, 2020, most federal civilian employees became eligible to take up to 12 weeks of paid parental leave for the arrival of a new child whether by birth, adoption, or foster care. The Office of Personnel Management's government-wide data showed that most federal employees were aware of the benefit, and the number of employees who took paid parental leave generally aligned with OPM's...

Hospital Financing:
Volume Limits and Reporting Could Help Manage Risks of Expanding FHA's Mortgage Insurance Program
GAO-24-106480
Published: Jan 25, 2024 . Publicly Released: Jan 25, 2024 .
The Federal Housing Administration insures mortgage loans to hospitals that need financing for projects like renovations. The insurance protects lenders from losses if hospitals don't make their loan payments. Currently, hospitals that provide acute care—like emergency services—are eligible. We looked at the potential effects of expanding the program to others, such as psychiatric hospitals. These hospitals generally have less revenue, which may increase FHA's risk...

Federal Regulation:
Selected Emerging Technologies Highlight the Need for Legislative Analysis and Enhanced Coordination
GAO-24-106122
Published: Jan 25, 2024
Publicly Released: Jan 25, 2024
Agencies face challenges regulating drones, medical devices with artificial intelligence, and other emerging technologies in a timely manner. We asked agencies that regulate some of these complex, rapidly evolving technologies about their strategies. They told us that they: Use varied approaches—including strategic foresight tools like "scenario planning"—to anticipate regulatory issues Coordinate with other federal agencies and foreign governments to share information and achieve shared goals...

Grants Management:
Action Needed to Ensure Consistency and Usefulness of New Data Standards
GAO-24-106164
Published: Jan 25, 2024
Publicly Released: Jan 25, 2024
The federal government spent roughly $1.2 trillion on grants in 2022. But it's hard to track and manage this spending because agencies collect data in different ways. The Grant Reporting Efficiency and Agreements Transparency (GREAT) Act may help—setting standards for agency data collection throughout the government. The Office of Management and Budget and the Department of Health and Human Services identified 540 data elements—such as...

National Nuclear Security Administration:
Better Performance Tracking and Documentation Needed for Minor Construction Projects
GAO-24-105848
Published: Jan 25, 2024
Publicly Released: Jan 25, 2024
This Q&A report reviews the National Nuclear Security Administration's management of its minor construction projects, such as upgrades to its facilities. Currently NNSA doesn't need specific congressional approval for these projects if they cost less than $30 million. We discuss the potential impacts of raising this cost threshold on NNSA's projects and Congress's oversight of them. Also, NNSA hasn't formally documented how the projects should...

VA Acquisition Management:
Oversight of Service Contracts Needing Heightened Management Attention Could Be Improved
GAO-24-106312
Published: Jan 25, 2024
Publicly Released: Jan 25, 2024
VA increasingly relies on contractors for a wide range of services. But if contractors perform certain functions—e.g., providing legal advice or supporting budget prep—without additional oversight from government officials, they could pose risks to government decision-making and accountability. The Office of Management and Budget issued guidance to help agencies determine which contracted services need this oversight. However, VA has yet to fully implement this guidance...

Forensic Technology:
Algorithms Offer Benefits for Criminal Investigations, but a Range of Factors Can Affect Outcomes GAO-24-107206
Published: Jan 24, 2024
Publicly Released: Jan 24, 2024
Fingerprints and other physical evidence have long helped law enforcement officers solve crimes. Advances in forensic algorithms allow experts to partially automate the examination of such evidence. Algorithms can analyze finger or palm prints, facial images, or DNA. We testified that these tools can improve speed and objectivity in many investigations. But analysts and investigators face challenges such as possible bias and misuse, and difficulty...

U.S. Ports of Entry:
Update on CBP Public-Private Partnerships
GAO-24-107058
Published: Jan 24, 2024
Publicly Released: Jan 24, 2024
Over 869,000 people and over 91,000 truck, rail, and sea containers entered the U.S. every day in FY 2022 through 328 U.S. ports of entry. U.S. Customs and Border Protection uses 2 public-private partnership programs to augment its port services. One allows partners such as port authorities to reimburse CBP for additional work outside regular hours. Another accepts donations for infrastructure improvements, which could speed...

GASB

Financial Accounting Foundation Launches Redesigned Website for the Financial Accounting Standards Board; Additional Sites Premiere Soon
January 23, 2024

IASB

January 2024 IASB and joint IASB-ISSB Update now available
Update
29 January 2024

January 2024 Integrated Reporting and Connectivity Council agenda and meeting paper now available
Meeting
26 January 2024

February 2024 IFRS Taxonomy Consultative Group agenda and meeting papers now available
Meeting
26 January 2024

Join the staff—IASB Assistant Technical Staff
Careers
24 January 2024

IRS

IRS offering additional time at Taxpayer Assistance Centers for face-to-face help
IR-2024-25, Jan. 29, 2024 — The Internal Revenue Service today announced nearly 250 IRS Taxpayer Assistance Centers (TACs) around the country will extend their weekly office hours to give taxpayers additional time to get the help they need during the filing season.

2024 tax filing season starts as IRS begins accepting tax returns today; taxpayer help expands this year with more in-person hours, better service, improved tools
IR-2024-24, Jan. 29, 2024 — The Internal Revenue Service successfully opened the 2024 tax season today by accepting and processing federal individual tax returns as the agency continues focusing on expanding options to help taxpayers.

IRS: Free Jan. 30 webinar to focus on navigating through restart of automated collection notices, penalty relief
IR-2024-23, Jan. 26, 2024 — The Internal Revenue Service will hold a free webinar, designed primarily for tax professionals whose clients were affected by the delayed notices during the COVID pandemic.

IRS, partners highlight EITC Awareness Day with tax resources that benefit millions of low- and moderate-income workers
IR-2024-22, Jan. 26, 2024 — The Internal Revenue Service and partners around the nation today launched the annual Earned Income Tax Credit Awareness Day outreach campaign to help millions of low-to-moderate income working Americans that are eligible to claim the Earned Income Tax Credit.

IRS continues work on Employee Retention Credit; new IRS CI education sessions come as agency urges businesses to review VDP, withdrawal program for questionable claims
IR-2024-21, Jan. 25, 2024 — The Internal Revenue Service renewed calls today for businesses to review their eligibility for the Employee Retention Credit as the agency’s law enforcement arm, Criminal Investigation (CI), begins a series of educational sessions for tax professionals.

Treasury, IRS announce special relief for certain rollovers to or from Maryland Prepaid College Trust accounts
IR-2024-20, Jan. 25, 2024 — The Department of the Treasury and the Internal Revenue Service issued Notice 2024-23 announcing special relief for taxpayers impacted by recent system issues affecting the Maryland Prepaid College Trust as described in the notice.

IRS launches Simple Notice Initiative redesign effort
IR-2024-19, Jan. 23, 2024 — The Internal Revenue Service today announced work is underway on the Simple Notice Initiative, a sweeping effort to simplify and clarify about 170 million letters sent annually to taxpayers.

Taxpayers should continue to report all cryptocurrency, digital asset income
IR-2024-18, Jan. 22, 2024 — The Internal Revenue Service today reminded taxpayers that they must again answer a digital asset question and report all digital asset related income when they file their 2023 federal income tax return, as they did for their 2022 federal tax returns.

IRS: Connecticut taxpayers impacted by storms qualify for tax relief; various deadlines postponed to June 17
IR-2024-17, Jan. 22, 2024 — The Internal Revenue Service announced today tax relief for individuals and businesses in parts of Connecticut affected by severe storms, flooding and a potential dam breach that began on Jan. 10.

NYS

Income tax filing season is underway! Time to Free File
January 29, 2024

Don’t Miss Valuable Tax Credits This Filing Season – National Earned Income Tax Credit Day Is January 26
January 26, 2024

Governor Hochul Issues Proclamation For Data Privacy Awareness Week In New York State
2024-01-26

PCAOB

PCAOB Sanctions Audit Firm and Partner for Violating PCAOB Audit and Quality Control Standards
Jan. 24, 2024

PCAOB Sanctions Haynie & Company and Four of Its Current and Former Partners for Audit and Quality Control Violations
Jan. 23, 2024

SEC

SEC Charges Northern Star SPAC for Material Misrepresentations in its IPO-Related Disclosures
2024-10
Washington D.C., Jan. 25, 2024 — The Securities and Exchange Commission today announced that Northern Star Investment Corp. II, a special purpose acquisition company (SPAC), agreed to settle charges that it made misleading statements in forms filed with the SEC as part of its January 2021 initial public offering (IPO).

SEC Charges Chicago-based Aon Investments and Former Partner with Misleading Pennsylvania Public Employees’ Pension Fund
2024-9
Washington D.C., Jan. 25, 2024 — The Securities and Exchange Commission today announced settled charges against Aon Investments USA Inc., a Chicago-based registered investment adviser, and the firm’s former partner, Claire P. Shaughnessy, for misleading their client, the Pennsylvania Public School Employees’ Retirement System (PSERS), about the reason for a discrepancy between two different calculations by Aon of PSERS’s investment returns for the same period.

SEC Adopts Rules to Enhance Investor Protections Relating to SPACs, Shell Companies, and Projections
2024-8
Washington D.C., Jan. 24, 2024 —The Securities and Exchange Commission today adopted new rules and amendments to enhance disclosures and provide additional investor protection in initial public offerings (IPOs) by special purpose acquisition companies (SPACs) and in subsequent business combination transactions between SPACs and target companies (de-SPAC transactions)

TIGTA

Management and Oversight of Cloud Managed Services Contracts and the Enterprise Cloud Program Need Improvements
January 23, 2024