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The IRS and Treasury Department have finalized regulations that extend the time individuals have to roll over qualified plan loan offset amounts from 60 days to their tax filing due date (including extensions) for the year the offset occurs. This extension was established under the Tax Cuts and Jobs Act to help participants in employer-sponsored retirement plans who have an outstanding loan balance when they either leave their job or when their employer plan terminates. These regulations are effective from January 1, 2021, but individuals can choose to apply them to offsets deemed distributed on or after August 20, 2020. The regulations aim to simplify the process for taxpayers and provide clearer guidelines for plan administrators.

The U.S. Department of Energy (DOE) is updating the test procedures for compressors to correct errors and ensure calculations are accurate across different conditions, such as altitude. These changes include fixing formulas for efficiency calculations and updating the definition of "air compressor" to clarify that multiple compression elements are included. The updates align DOE procedures with industry standards and are designed to be more precise without adding extra testing burdens on manufacturers. The updated rules will be effective April 2, 2025, and mandatory for product testing by July 16, 2025.

The Consumer Financial Protection Bureau (CFPB) is asking the public for feedback on how companies that provide financial services handle consumers' personal financial data. They want to understand how these companies collect, use, and share data from consumer payments. The information collected will help CFPB make decisions on whether to update regulations to better protect consumer privacy. Anyone interested can share their thoughts, and CFPB particularly wants to hear from consumers, advocates, researchers, and businesses by April 11, 2025.

The National Marine Fisheries Service (NMFS) has implemented a final rule that allows hook-and-line catcher/processors to use longline pot gear when targeting Greenland turbot in the Bering Sea. This regulation aims to improve fishing efficiency, boost economic benefits, and reduce interactions with killer whales, which have negatively impacted this fishery. With the approval of the North Pacific Fishery Management Council, the rule addresses gear restrictions, whale depredation, and species retention, promoting effective fishery management and conservation. The new rules will be effective from April 28, 2025, and include requirements for gear marking and reporting to aid in monitoring and enforcement.

The Environmental Protection Agency (EPA) is proposing new rules for the use of certain chemical substances under the Toxic Substances Control Act (TSCA). These rules, known as Significant New Use Rules (SNURs), require entities to notify EPA at least 90 days before starting activities considered significant new uses of these chemicals. The EPA will then assess these uses for potential risks. The proposed rules aim to ensure new chemical substances are safely manufactured and processed, protecting human health and the environment.

The Federal Energy Regulatory Commission (FERC) has completed its five-year review of the oil pipeline index, which is used to adjust annual oil pipeline rate ceilings. The new index, effective July 1, 2021, will be the Producer Price Index for Finished Goods plus 0.78%. This decision follows a Notice of Inquiry issued in 2020 and includes considerations like trimming data to the middle 80% of cost changes and removing the effects of an income tax policy change from calculations. The Commission's decision aims to ensure rates reflect typical industry-wide cost trends, but it has faced criticism from Commissioner Richard Glick, who argues that the new methodology unduly favors pipeline companies at the expense of consumers.

The U.S. Fish and Wildlife Service is proposing to classify the monarch butterfly as a threatened species under the Endangered Species Act. They aim to designate critical habitat areas, particularly in California, to protect these butterflies. Additionally, they plan to allow certain activities, like habitat restoration and conservation efforts, even if they might unintentionally harm some butterflies. Public comments on the proposal will be accepted until March 12, 2025, and informational meetings are scheduled to discuss the details further.

The Federal Aviation Administration (FAA) has published a supplemental notice of proposed rulemaking (SNPRM) to update and expand previous safety regulations for certain aircraft seat buckle assemblies. This action follows the discovery of additional manufacturing defects involving screws within these buckles, which could fail and potentially endanger passengers. The proposed rule involves inspecting and possibly replacing affected parts and includes options for making certain passenger seats inoperative until repairs are made. The FAA is also inviting public comments on this proposal by March 28, 2025, to ensure comprehensive stakeholder input.

The Treasury Department and the Internal Revenue Service (IRS) have issued final regulations to update the rules for corporations that file consolidated federal income tax returns. These new regulations aim to bring the language up to date, clarify the existing rules, and reflect recent legal changes. They also remove outdated regulations and adjust tax rules, such as how losses are carried back or forward, considering a corporation's at-risk amount. These changes will mainly affect larger corporations that often file these types of consolidated returns.

The U.S. Department of Energy (DOE) has issued a final rule clarifying the test procedures for general service lamps (GSLs). These clarifications emphasize that GSLs shouldn't be tested as colored lamps, and if a lamp includes extra components not affecting light output, those components should be turned off during tests. For non-integrated lamps, the rule specifies testing with a ballast or driver that's compatible and commercially available, where possible. The final rule is designed to ensure consistent testing without imposing additional costs or burdens on manufacturers.