If an owner or general contractor fails to timely pay on a project, you may be entitled to prompt pay interest. Prompt payment acts are intended to deter late payments by general contractors and owners by enabling contractors and suppliers
Gray Reed & McGraw LLP
Gray Reed & McGraw is a Texas-based, full-service law firm with over 120 lawyers in Dallas and Houston. Since 1985, our firm philosophy has been to provide high-quality legal services in a streamlined manner, to provide sophisticated and complex legal advice that is reasonably priced, and to provide big-firm results with small-firm efficiency. For 30 years, we have dedicated ourselves to achieving success for our clients, as they define success – whether that is winning a critical lawsuit, closing a key deal, consulting to save taxes, or just giving good business advice to avoid disputes.
Latest from Gray Reed & McGraw LLP - Page 2
Mineral Lessee’s H2S Damage Claim Rejected
Landowner and mineral owner (that includes you, lessee): Under ETC Texas Pipeline, Ltd. v. Ageron Energy, LLC, your right to sue for damages for tort or trespass could pass into history before you even know you have a claim. Here’s…
Tony Box Quoted by Tax Notes on ERC Voluntary Disclosure Limits
The IRS’s ERC voluntary disclosure program has drawn concern from tax attorneys due to uncertainty around entering into the program and still being subjected to criminal prosecution. Extensive disclosure is required as part of the program, however, the IRS does…
Travel Alert: How IRS Debt Can Affect Your Passport
By law, the IRS certifies taxpayers with “seriously delinquent” tax debts to the Department of State affecting passport status and renewal when certain conditions or thresholds are met. The IRS will send a Notice called a CP508C when a certification…
Travel Alert: How IRS Debt Can Affect Your Passport
By law, the IRS certifies taxpayers with “seriously delinquent” tax debts to the Department of State affecting passport status and renewal when certain conditions or thresholds are met. The IRS will send a Notice called a CP508C when a certification…
The Taxman, Technology Litigation and Cavalier Settlement Structures
Intellectual property (“IP”) is hugely important to businesses. Given that importance, IP owners must occasionally litigate against the unauthorized use of their technology. The costs of such litigation and appurtenant settlements implicate a host of federal income tax issues. Some…
Have You Recorded Your Saltwater Disposal Agreement?
According to Darkhorse Water LP v. Birch Operations Inc. et al., the form of an instrument affecting real property in Texas does not affect the interest conveyed by the instrument. It’s what the document says about the transaction, not what…
A Breach of Fiduciary Duty in the Oil Patch
Antero Resources Corp. v. C & R Downhole Drilling, Inc. et al, proves again the extreme risk when one bites the hand that feeds him. Shoutout to Greek poet Sappho, 600 BCE.He She (oops) probably had a Dalmation. Antero sued…
The Fine Print: IRS Examination of Artwork
Many taxpayers have art collections. However, the art collections of some high-net-worth individuals, family offices, and business taxpayers may draw the unwanted eye of the IRS. With the increased focus on auditing high-income taxpayers, large partnerships, and using increased staff and…
What’s New From the Climate-Alarm Industry?
A lot, it turns out. The Biden Administration, bending the knee to the progressive wing of the Democratic Party, has paused approval of new LNG export facilities. (In terms of influence on the President, this “wing” is looking more…