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IRS Sanctioned for Bad Faith on Supervisory Approval of Penalties While Proposed Regulations on the same Issue are Pending | Gray Reed - Vimarsana News

IRS Sanctioned for Bad Faith on Supervisory Approval of Penalties While Proposed Regulations on the same Issue are Pending | Gray Reed

A hearing is scheduled for September 11, 2023 for interested persons and organizations to provide testimony on proposed regulations on the timing and approval process for penalties....

Who Owns Produced Water in Texas? | Gray Reed - Vimarsana News

Who Owns Produced Water in Texas? | Gray Reed

In Cactus Water Services LLC v. COG Operating, LLC., a divided Texas court of appeals answered the question this way: The oil and gas producer prevails over the purchaser of the surface...

Will the Fixed or Floating Suits Ever End? | Gray Reed - Vimarsana News

Will the Fixed or Floating Suits Ever End? | Gray Reed

Rhetorical Question: When will Texas be done with fixed/floating royalty cases such as Johnson et al v. Clifton et al? Rhetorical Answer: When scriveners of deeds that...

IRS Takes Warning Shot at Section 643(b) Trust Arrangements | Gray Reed - Vimarsana News

IRS Takes Warning Shot at Section 643(b) Trust Arrangements | Gray Reed

For some time, promoters have shopped around an arrangement known as a “section 643(b) trust,” known alternatively as a “non-grantor, irrevocable, complex, discretionary, spendthrift...

Federal Court Distinguishes Devon v. Sheppard | Gray Reed - Vimarsana News

Federal Court Distinguishes Devon v. Sheppard | Gray Reed

Producers disappointed by the Supreme Court’s holding in Devon Energy Production v. Sheppard might have reason to feel vindicated. The question in HL Hawkins Jr., Inc. v. Capitan Energy...