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BOEM Finalizes Long-Awaited Overhaul of Offshore Oil and Gas Financial Assurance Regulations

The Bureau of Ocean Energy Management (BOEM) announced its finalization of a rule substantially revising the financial assurance requirements applicable to offshore oil and gas operations. The final rule revises criteria for...more

BOEM Releases Proposed Rule on Supplemental Financial Assurance for OCS Lease and Grant Obligations

On June 29, 2023, the Department of Interior’s Bureau of Ocean Energy Management (BOEM) published a proposed rule that, if adopted, would substantially revise the financial assurance requirements applicable to offshore oil...more

New Requirements for Deducting Payments to Governmental Entities

Section 162(f) of the Internal Revenue Code of 1986 (the Code), as amended by the Tax Cuts and Jobs Act (the TCJA), limits the federal income tax deductibility of certain payments made to a government or governmental entity,...more

EPA Updates Its Audit Policy with "eDisclosure"

On June 10, 2015, the U.S. Environmental Protection Agency hosted a webinar describing a plan to modernize the implementation of its April 11, 2000 Audit Policy. The plan – called eDisclosure – attempts to provide a...more

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