April 2, 2010
Update on Free Gas & IRS 1099's
Tax day is just around the corner (April 15, 2010). WV-SORO contacted several tax professionals to try to determine with certainty the position that surface owners who received 1099's as a result of their receipt of free gas should take when they file their income tax returns. (As far as we know only EQT has sent these out and the rest of the industry has not followed suit. If you have them from other companies, please let us know.) Several of the tax professionals we contacted volunteered an hour or so of their time or that of their staff to see if there was an easy answer. Apparently, this issue has apparently never been brought up before. Looking for an easy answer is complicated by the fact that there are four common situations in which the surface owner could be receiving free gas, as explained here.
We started to get an estimate from a tax lawyer to see what an expert opinion on this issue would cost so we could find a donor to pay for it. About that time the legislative session started and all of our energies where focused there and we have gotten no further on the tax question.
Unfortunately, for this year, unless something unexpected happens, this means you will have to rely on your interpretation of the tax laws or, better yet, consult your own tax preparer/professional. If you are new to our list or have not read the information we previously posted to our website on this issue, please click here.
If you get a tax professional's advice, we'd appreciate it if you would provide us please get us a copy or let us know what they say so we can share that information with others. Or if you are in a position to make a tax deductible donation to WV-SORO, contact us about helping get the opinion of a tax lawyer for all WV-SORO members. We're sorry we don't have more information for you at this time.
Educational Meeting in Upshur County ~ April 22, 2010
WV-SORO will be sponsoring an educational meeting on Thursday, April 22, 2010 at 6:30PM at the Banks District VFD in Rock Cave, WV. Topics of discussion will include surface owners' rights generally, geophysical and seismic testing and environmental concerns related to Marcellus Shale drilling. We'll send out a reminder once we finalize the agenda and speakers. In the meantime, contact email@example.com for more information and mark your calendar if you plan to attend.