5 Min Read
HOUSTON (Reuters) - The Texas attorney general on Wednesday said state law allows the utilities regulator to cut billions of dollars from storm-inflated electric bills, an endorsement that came hours after the ouster of the regulator who opposed retroactive cuts.
FILE PHOTO: An electrical substation is seen after winter weather caused electricity blackouts in Houston, Texas, U.S. February 20, 2021. REUTERS/Go Nakamura/File Photo
The drive to reverse $4.1 billion in emergency prices gained momentum after a magazine published inflammatory comments by Public Utility Commission Chair Arthur D’Andrea. In a March 9 call with Bank of America analysts and investors, he said he “tipped the scale” to protect utility profits. He also minimized the financial pain caused by storm pricing to municipal power companies.
3 Min Read
WASHINGTON (Reuters) - The U.S. Internal Revenue Service said on Wednesday it was extending the federal income tax filing and payment deadline by about a month until May 17 due to the coronavirus pandemic, bowing to pressure from congressional Democrats.
A security camera hangs near a corner of the U.S. Internal Revenue Service (IRS) building in Washington May 27, 2015. REUTERS/Jonathan Ernst
In a statement, the IRS said the extension would be automatic, with no need to file any forms and no penalties or interest on taxes due that are paid between April 15 and May 17.
The move marked a reversal of the IRS’ earlier stance, which was to maintain as normal a tax-filing season as possible in order to speed refunds to households. A year ago, as coronavirus lockdowns began, the IRS delayed the filing and tax payment deadline by three months, to July 15.
5 Min Read
HOUSTON (Reuters) - The Texas attorney general on Wednesday said state law allows the utilities regulator to cut billions of dollars from storm-inflated electric bills, an endorsement that came hours after the ouster of the regulator who opposed retroactive cuts.
FILE PHOTO: An electrical substation is seen after winter weather caused electricity blackouts in Houston, Texas, U.S. February 20, 2021. REUTERS/Go Nakamura/File Photo
The drive to reverse $4.1 billion in emergency prices gained momentum after a magazine published inflammatory comments by Public Utility Commission Chair Arthur D’Andrea. In a March 9 call with Bank of America analysts and investors, he said he “tipped the scale” to protect utility profits. He also minimized the financial pain caused by storm pricing to municipal power companies.
By Reuters Staff
1 Min Read
A security camera hangs near a corner of the U.S. Internal Revenue Service (IRS) building in Washington May 27, 2015. REUTERS/Jonathan Ernst
WASHINGTON (Reuters) - The U.S. Internal Revenue Service confirmed on Wednesday it will automatically extend the federal income tax filing and payment due date for individuals to May 17 due to the coronavirus pandemic.
In a statement, the IRS said individual taxpayers do not need to file any forms to qualify for the extension and will not pay penalties or interest on any taxes due that are paid between April 15 and May 17.
The confirmation from the tax agency and the U.S. Treasury comes after two Democratic congressmen announced the delay.
By Reuters Staff
3 Min Read
(Reuters) - The leader of the Texas House of Representatives on Tuesday signaled he would not support requiring the state’s grid operator to cut billions of dollars from electricity pricing during a cold snap that upended the state’s power market.
FILE PHOTO: An electrical substation is seen after winter weather caused electricity blackouts in Houston, Texas, U.S. February 20, 2021. REUTERS/Go Nakamura
On Monday, the state Senate approved a proposal to order the state Public Utility Commission (PUC) to reduce electricity costs on power marketers during a February deep freeze. The proposal would reduce charges by about $5.1 billion including $900 million in fee cuts already approved by the PUC.