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Record Low Oil Prices Affect Standard Mileage Rate and Social Security Benefits

Oil prices continue to plummet due to record production and weak demand. Production increases in North America are attributable to the various shale plays ... read more >

Oil and Gas Investor Subject to Self-Employment Tax for Fractional Working Interest Ownership

A recent court case, Methin v. Commissioner, T.C. Memo 2015-81, ruled that an investor’s small (at times 5% or less) share of a working interest ... read more >

EPA Assessment Finds Hydraulic Fracturing to Cause No Impact on Drinking Water

EPA assessment finds "no evidence of hydraulic fracturing activities causing widespread, systemic impact on drinking water resources in the United ... read more >

Pennsylvania Natural Gas Producers Wary of Severance Tax

Tom Wolf was sworn in as Pennsylvania’s 47th Governor on January 20, 2015. In fulfillment of his campaign promise, and after less than a month in ... read more >

An Abundant Marcellus Shale Gas Supply Continues to Negatively Impact Prices for Local Producers

Natural gas production growth in the Appalachian Basin has outpaced the available pipeline capacity of most of the region’s hubs, leading to a large ... read more >

Marcellus Gas Production Affecting Local Gas Prices

Natural gas prices have emerged from the $2-$3/MMBtu lows of 2011 and 2012 to stabilize above $4/MMBtu. National pricing is generally based on the Henry ... read more >

Coal Industry Facing Increased Regulation

The Environmental Protection Agency ("EPA") has proposed strict emission limits on new coal plants. An article published by USA Today on September ... read more >

Transportation-Propane Credit and Alternative Fuel Credit Extended Through 2013

The American Taxpayer Relief Act of 2012 extended the Alternative Fuel Tax Credit and the Alternative Fuel Infrastructure Tax Credit through December 31, ... read more >

Attention Truckers: Investment in Auxiliary Power Units Reduces Fuel Consumption and May Provide Tax Credits

Rising fuel costs and increasingly stringent governmental regulations related to emmisions and noise restrictions are causing trucking companies to look ... read more >

Attention Truckers - Form 2290 Highway Use Tax Return Due August 31, 2012

Yesterday, the Internal Revenue Service reminded truckers and other owners of heavy highway vehicles that, in most circumstances, their next federal highway ... read more >