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Insights & Resources

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

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.
The Biden administration has proposed to repeal a number of tax provisions that encourage direct investment in oil and gas properties as a way to offset the costs of extending and expanding clean energy tax provisions.