Green Book - IMO w/r to the Green Book proposals on oil and gas tax, we should keep IDC expensing, keep % depletion but limit it to basis, and enable expensing of G&G costs. The credits can go, the PAL exception should go, and of course the PTP exception should go. https://t.co/lpEyXjTXss

10:51pm PDT - March 30th, 2022

IMO w/r to the Green Book proposals on oil and gas tax, we should keep IDC expensing, keep % depletion but limit it to basis, and enable expensing of G&G costs. The credits can go, the PAL exception should go, and of course the PTP exception should go. https://t.co/lpEyXjTXss

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Matt Smith (@SmithMatthewC)