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Start exploring insights from across the industries we serve, featuring the latest industry trends, compliance alerts, tax and accounting news and much more.

The IRS has issued guidance to taxpayers regarding claiming the alternative fuel tax credits for the first three quarters of 2022.
The Fifth Circuit Court of Appeals and the U.S. Court of Federal Claims held that the blends of butane and gasoline would not be eligible for the alternative fuel mixture credit.
On March 24, 2022, the Fifth Circuit Court of Appeals found the federal oil spill tax under IRC Section 4611(b) unconstitutional when imposed on exports of crude oil from the United States.
“Flowback services” used to transition an oil and gas well to production after hydraulic fracturing are taxable as equipment rentals under the Texas Administrative Code.