Insights

A new 2019 form has been issued by the Internal Revenue Service (“IRS”) to help governments and government entities comply with a portion of the Tax Cuts and Jobs Act (“TCJA”) involving reporting fines or penalties.

Many contractors deal only with the Defense Contract Audit Agency (“DCAA”) on audit matters. For several years, we have presented a webinar on the latest developments concerning DCAA.

With the Securities and Exchange Commission (“SEC”) required to cease regular activities during a government shutdown, the agency’s Division of Corporation Finance (“Corp Fin”) has issued staff guidance detailing the agency’s limited functions during the shutdown.

A Senate bill offers Sarbanes-Oxley exemptions for small banks. Discover what this means for financial regulations.

The Council on Financial Assistance Reform has issued a revised frequently asked questions (“FAQs”) document on the Office Management and Budget’s (“OMB”) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards at 2 CFR 200. Updated as of July 2017, the document features 24 new FAQs and four revised FAQs.

In Exelis, Inc., ASBCA No. 60131 (29 Aug. 2016), the Armed Services Board of Contract Appeals (“ASBCA”) held that a concern whether a building lease was a capital lease or an operating lease is not subject to Cost Accounting Standards (“CAS”) 404.