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The Internal Revenue Service (IRS) has finalized new rules identifying certain micro-captive insurance arrangements as either listed transactions or transactions of interest. These rules aim to increase transparency in tax reporting and discourage abusive tax practices by requiring involved parties to disclose these transactions. If a micro-captive elects certain tax benefits but also participates in financing benefiting related parties, it may qualify as a listed transaction if specific criteria are met, such as low claim activity relative to premiums. The rules, set to take effect in January 2025, include exemptions and allow participants to avoid added reporting if they make certain changes, like revoking tax elections.

The Office of Surface Mining Reclamation and Enforcement (OSMRE) of the Interior Department is requesting public comments on renewing a collection of information regarding coal exploration activities. This request aims to gather input on the necessity, timeliness, accuracy, and potential improvements of this information collection. The process affects state governments and mine permittees, requiring them to comply with federal environmental protection standards in coal exploration. Public comments are invited by March 16, 2021, and those submitted will be part of the public record.

The Federal Aviation Administration (FAA) has issued a new rule updating airworthiness directives for certain Embraer S.A. airplanes. This regulation replaces a previous directive and requires airlines to revise their maintenance or inspection programs to include new or stricter safety standards and structural changes necessary to prevent potential failures. The updated requirements aim to address issues like fatigue cracking, which can reduce the structural integrity of the aircraft, and possible safety hazards from latent system failures or ignition sources in fuel tanks. The new rule takes effect on March 17, 2025, affecting 662 airplanes in the U.S.

The National Marine Fisheries Service (NMFS) under the National Oceanic and Atmospheric Administration (NOAA) has proposed harvest specifications for the groundfish fisheries in the Bering Sea and Aleutian Islands for the years 2025 and 2026. This proposal outlines catch limits, apportionments, and prohibited species catch allowances necessary to manage groundfish resources sustainably, aligning with regulations under the Magnuson-Stevens Fishery Conservation and Management Act. Public comments are invited until January 3, 2025, and these regulations include measures to protect species such as Pacific cod, halibut, and salmon, while ensuring fishing operations do not exceed scientific recommendations for conservation.

The Department of State is updating the International Traffic in Arms Regulations by revising the U.S. Munitions List (USML) to include or remove items and clarify certain entries. These changes aim to better control defense articles and services, ensuring they continue to provide a critical military or intelligence advantage. While the new rules are set to take effect on September 15, 2025, the department is also seeking public comments by March 18, 2025, to further refine the regulations.

The Department of Defense (DoD) is proposing a rule to update the system of records for the DoD 0004 "Defense Repository for Common Enterprise Data (DRCED)" under the Privacy Act of 1974. This update includes an exemption from certain Privacy Act provisions due to national security concerns, allowing certain records to withhold classification information. Comments on this proposal are open until March 8, 2021, and the DoD states that the rule will not significantly impact small businesses or impose extra information collection requirements on the public.

The Federal Communications Commission (FCC) is inviting comments from the public and other federal agencies to help reduce paperwork, as per the Paperwork Reduction Act of 1995. They are particularly interested in feedback from small businesses with fewer than 25 employees about how to lessen their information collection burdens. The FCC has outlined specific information collection topics, including burden estimates and ways to improve the clarity and usefulness of collected information. Comments must be submitted by March 22, 2021, through the provided channels.

The Bureau of Land Management (BLM) has issued a final rule to adjust civil monetary penalties for onshore oil and gas operations and coal trespass due to inflation. This update, effective January 17, 2025, follows the requirements of the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. The rule does not allow for public comment due to its non-discretionary nature, and it outlines increases in specific monetary penalties to maintain their deterrent effect. The adjustments are calculated using a multiplier based on the change in the Consumer Price Index from October 2023 to October 2024.

The Commodity Futures Trading Commission (CFTC) has finalized new rules to address several operational challenges faced by Swap Execution Facilities (SEFs) and their market participants. These changes include eliminating the requirement for SEFs to capture and retain post-execution allocation information in their audit trail data. Additionally, the financial resources requirements have been amended to reduce burdens on SEFs while ensuring compliance with regulatory standards. The rules also simplify the duties and reporting requirements of a Chief Compliance Officer, allowing more flexibility and efficiency in SEF operations.

The document from the Treasury Department and the IRS details final regulations regarding the Section 199A deduction for specified agricultural or horticultural cooperatives and their patrons. It provides guidance on how cooperatives and their patrons should calculate the Section 199A(a) and (g) deductions, ensures clear definitions like "patronage and nonpatronage," and establishes reporting requirements. The regulations aim to clarify the application of the Tax Cuts and Jobs Act's provisions, simplify tax processes for cooperatives, and ensure that tax benefits are consistent with legislative intent.