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The Treasury Department and the Internal Revenue Service have issued final regulations about deductions under section 162(f) of the Internal Revenue Code. These rules clarify when taxpayers can deduct fines, penalties, or settlement payments related to law violations. Under these new regulations, businesses generally cannot deduct payments to government entities made because they violated a law, but exceptions exist for certain restitution and remediation payments. Additionally, section 6050X introduces information reporting requirements for governments when payments exceed $50,000, aiming to ensure proper tax reporting and compliance while minimizing burdens on small entities.

The United States International Trade Commission (USITC) has initiated a review under the Tariff Act of 1930 to decide if ending the suspended investigations on sugar imports from Mexico would cause significant harm to U.S. industries. Interested parties are asked to respond to this notice by April 2, 2025, with comments on response adequacy due by May 14, 2025. The review process will evaluate various factors, including the likely effects on domestic markets and industries, and involves input from U.S. sugar producers, importers, and exporters. The USITC emphasizes the importance of receiving accurate information from relevant parties to make informed decisions.

The Office for Victims of Crime (OVC) of the U.S. Department of Justice is proposing changes to the International Terrorism Victim Expense Reimbursement Program (ITVERP) to make it more efficient and update certain policies and caps on cost categories. They want to clarify existing rules and increase the limits on reimbursements to better match actual victim needs. The proposed changes aim to ensure that victims of international terrorism receive adequate compensation without increasing costs to state or local governments. Public comments on these changes are invited until March 24, 2025.

The United States International Trade Commission (ITC) has made amendments to its Rules of Practice and Procedure. The changes are designed to address technical corrections, clarify provisions, and ensure the rules are harmonized and consistent. These amendments are aimed at improving efficiency and reducing costs in the administration of agency proceedings and apply to future investigations and proceedings starting February 3, 2025. Some key updates include implementing gender-neutral language, eliminating paper copies in favor of e-filing, and refining confidentiality designations during the filing process.

The final regulations from the Treasury Department and the IRS provide guidelines for claiming tax credits under section 45Q of the Internal Revenue Code, which encourages carbon oxide sequestration. They clarify how the capture, storage, and utilization of carbon oxide must be conducted and verified to qualify for credits. The regulations also define key terms, explain the process for credit recapture if captured carbon oxide leaks, and specify the documentation and reporting requirements necessary for compliance. The aim is to foster innovation and investment in technologies that reduce carbon emissions and assist in capturing carbon oxide effectively.

The Environmental Protection Agency (EPA) is suggesting changes to certain deadlines within the Renewable Fuel Standard (RFS) program. Specifically, the EPA proposes extending the compliance deadline for small refineries’ 2019 obligations to November 30, 2021, and their attest engagement report deadline to June 1, 2022. For the 2020 compliance year, the deadline for all obligated parties and others in possession of Renewable Identification Numbers (RINs), as well as their attest engagement reports, would be January 31, 2022, and June 1, 2022, respectively. These extensions aim to address ongoing uncertainties and allow for more thorough compliance planning.

The U.S. Nuclear Regulatory Commission (NRC) has accepted a request from Louisiana Energy Services, operating as Urenco USA, to amend its special nuclear materials license to increase the uranium enrichment limit at the National Enrichment Facility in New Mexico. This amendment includes raising the enrichment level from 5.5% to below 10% for on-site recycling and support systems and removing certain storage controls. Because the request contains sensitive information, the NRC has detailed procedures for how people can gain access to this information if they need it to participate in a hearing about the amendment. Those interested must file requests by specific deadlines, follow new filing rules, and comply with security checks for access to sensitive data.

The Commodity Futures Trading Commission (CFTC) has finalized new rules to manage risks associated with electronic trading on designated contract markets (DCMs). These rules require DCMs to adopt measures to prevent, detect, and mitigate market disruptions or anomalies that might occur due to electronic trading. The regulations emphasize flexibility by allowing each DCM to tailor their risk controls based on their specific market needs. This approach aims to ensure stable and fair trading environments on electronic platforms.

The Environmental Protection Agency (EPA) proposes to approve Idaho's updated regional haze State Implementation Plan (SIP) for the period from 2018 to 2028. Idaho's plan aims to make progress toward improving visibility caused by air pollution in national parks and wilderness areas. The plan includes specific strategies and rules for sources of air pollution, such as factories, to reduce emissions of harmful substances like nitrogen oxides and sulfur dioxide. The EPA found Idaho’s plan to be consistent with federal requirements and intends to incorporate the plan's measures into the state’s legally enforceable air quality rules.

The Postal Regulatory Commission has announced that the Postal Service is seeking an exemption from the annual revenue cap for its market test of an experimental product called Extended Mail Forwarding. This service helps customers receive mail after changing addresses and has expanded from nine districts to a nationwide scope. The Postal Service expects the market test to exceed the $10 million revenue limit but argues that the service benefits the public and supports their financial stability without causing unfair competition. The Commission invites public comments on this request by February 10, 2021.