Compliance, Regulatory Changes 14 Jan 2025 compliance, imports, administrative practice and procedure, reporting and recordkeeping requirements, postal service, freight, harbors, vessels, exports, e-commerce, trade agreements, import, organization and functions (government agencies), bonds, seals and insignia, customs regulations, lotteries, low-value shipments, duty-free entry

📦New Regulations for Low-Value Shipments

This document proposes amendments to the U.S. Customs and Border Protection (CBP) regulations pertaining to the entry of certain low-value shipments not exceeding $800 that are eligible for an administrative exemption from duty and tax. Specifically, CBP proposes to create a new process for entering low-value shipments, allowing CBP to target high-risk shipments more effectively, including those containing synthetic opioids such as illicit fentanyl. This document also proposes to revise the current process for entering low-value shipments to require additional data elements that would assist CBP in verifying eligibility for duty- and tax-free entry of low-value shipments and bona-fide gifts.

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Compliance, Economic Development 14 Jan 2025 work hour exemption, sequoyah nuclear plant, nuclear regulatory commission, tennessee valley authority, compliance

⚛️TVA Granted Work Hour Exemption for Sequoyah Nuclear Plant

The U.S. Nuclear Regulatory Commission (NRC) has issued an exemption in response to a request dated November 27, 2024, from Tennessee Valley Authority. The exemption authorizes a one-time exemption for Sequoyah Nuclear Plant, Unit 2, to allow the use of the less restrictive work hour limitations described in NRC regulations for a 21-day period starting no earlier than January 6, 2025, and no later than January 31, 2025.

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Regulatory Requirements, Compliance 14 Jan 2025 tax regulations, income taxes, reporting requirements, irs, reporting and recordkeeping requirements, partnership, compliance

📊IRS Final Rules on Partnership Related-Party Transactions of Interest

This document contains final regulations that identify certain partnership related-party basis adjustment transactions and substantially similar transactions as transactions of interest, a type of reportable transaction. Material advisors and certain participants in these transactions are required to file disclosures with the IRS and are subject to penalties for failure to disclose. The final regulations affect participants in these transactions as well as material advisors.

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Regulatory Compliance, Financial Implications 14 Jan 2025 compliance, faa, safety, aircraft, aviation safety, incorporation by reference, air transportation, airworthiness directives, aviation regulations, embraer

✈️FAA Airworthiness Directive for Embraer ERJ 190-300 Air

The FAA is superseding Airworthiness Directive (AD) 2023-23- 10, which applied to all Embraer S.A. Model ERJ 190-300 airplanes. AD 2023-23-10 required repetitive inspections of the press-fitted bushings of the wing ailerons for migration and broken sealant, measurements of the distance between the aileron surfaces and hinge fittings, functional checks of the backlash of the wing aileron control system, and all applicable related investigative and corrective actions. Since the FAA issued AD 2023-23-10, it was determined that certain requirements needed to be clarified. This AD continues to require all actions of ANAC AD 2023-06-01 with revised compliance requirements, as specified in an Ag[ecirc]ncia Nacional de Avia[ccedil][atilde]o Civil (ANAC) AD, which is incorporated by reference. The FAA is issuing this AD to address the unsafe condition on these products.

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Compliance, Regulatory Requirements 14 Jan 2025 user fee, generic drugs, pharmaceuticals, fda, public comment, regulation, compliance

📄FDA Notice

The Food and Drug Administration (FDA or Agency) is announcing an opportunity for public comment on the proposed collection of certain information by the Agency. Under the Paperwork Reduction Act of 1995 (PRA), Federal Agencies are required to publish notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information, and to allow 60 days for public comment in response to the notice. This notice solicits comments on information collection associated with our generic drug user fee program.

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Compliance, Regulatory Requirements 14 Jan 2025 tax regulations, income sourcing, income taxes, irs, reporting and recordkeeping requirements, compliance, cloud transactions

☁️IRS Proposes Rules for Cloud Income Tax Sourcing

This document contains proposed rules for determining the source of income from cloud transactions for purposes of the international provisions of the Internal Revenue Code. These proposed rules would generally affect taxpayers who earn gross income from engaging in cloud transactions.

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Regulations, Compliance 14 Jan 2025 federal communications commission, wireless emergency alerts, small business, paperwork reduction act, compliance

📜FCC Seeks Small Business Comments on Information Collection Impact

As part of its continuing effort to reduce paperwork burdens, as required by the Paperwork Reduction Act (PRA) of 1995, the Federal Communications Commission (FCC or the Commission) invites the general public and other Federal Agencies to take this opportunity to comment on the following information collection. Pursuant to the Small Business Paperwork Relief Act of 2002, the FCC seeks specific comment on how it might "further reduce the information collection burden for small business concerns with fewer than 25 employees." The Commission may not conduct or sponsor a collection of information unless it displays a currently valid Office of Management and Budget (OMB) control number. No person shall be subject to any penalty for failing to comply with a collection of information subject to the PRA that does not display a valid OMB control number.

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Compliance, Regulatory Requirements 14 Jan 2025 service contracting, acquisition, dfars, defense, regulations, compliance

📜Business Implications of DFARS Service Contracting Regulations

The Defense Acquisition Regulations System has submitted to OMB for clearance the following proposal for collection of information under the provisions of the Paperwork Reduction Act.

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Compliance, Financial 14 Jan 2025 compliance, business regulation, motor carriers, administrative practice and procedure, civil monetary penalties, transportation industry, surface transportation, freight forwarders, brokers, inflation

📈2025 Civil Monetary Penalty Adjustments by the Surface Transportation Board

The Surface Transportation Board (Board) is issuing a final rule to implement the annual inflationary adjustment to its civil monetary penalties, pursuant to the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015.

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Regulatory Compliance, Financial Reporting 14 Jan 2025 energy, business impact, compliance, pipeline, regulation, natural gas