President Biden’s Office, in a recent memo, asked to review, delay, and potentially withdraw, two final regulations in the U.S. Treasury Dept. pipeline. Such actions are allowed by law. TD 9944, “Credit for Carbon Oxide Sequestration,” relates to final carbon capture regs and includes a reduced recapture period. TD 9949 concerns employer shared responsibility provisions and nondiscrimination rules for Health Reimbursement Arrangements and other account-based group health plans. Both final regs had been sent to the Office of Federal Register but not yet published. The memo also asked to postpone, for 60 days, some final regs that have been published in the Register, but not yet taken effect. Call or visit our website for more information! www.mjscpa.com/
