In March, the Biden administration unveiled a $2.3 trillion infrastructure plan which included many proposals that specifically target the energy industry, including expanded renewable energy tax credits, mandates for utility system modernization, and transitioning the power sector to emissions-free electricity by 2035. Congressional Republicans responded by releasing a $568 billion counter-proposal which included a more limited scope of what qualifies as infrastructure. Since that time Biden has offered to cut his plan to $1.7 trillion, and Republicans have countered again with second counter-proposal of $928B.

In February, a massive winter storm led to a power outage in Texas that left more than 4.3 million households, around one third of the state’s electricity customers, without power for several days amid freezing weather. Over 46 gigawatts of power capacity went offline under the extreme cold weather event, resulting in broad-based failure of the power grid. The energy outages also affected the state’s water services, either making tap water unsuitable for drinking or stopping the supply altogether.

There are many misconceptions surrounding software bots. The term ‘bot’ is applied to a vast array of different technologies, which can make pinning down a precise definition difficult. Clearly the pervasiveness of software bots speaks to how useful they can be. But what exactly are software bots, and what exactly are their capabilities? More importantly, do they have a place in the technological toolbelt of the workforce of tomorrow?

The American Society of Civil Engineers (ASCE) recently gave the US a D grade for drinking water infrastructure and D+ for wastewater infrastructure. How can the richest nation in the world have infrastructure ranked so poorly on the world scale, and what investments are being made to improve our water networks?

Cloud computing has applications in a wide array of industries, but utilities in particular are well-suited to reap the massive benefits of the cloud. The unique IT requirements of large, regulated organizations managing critical infrastructure are incredibly complex and notoriously difficult to manage. Only through leveraging the cloud can forward-thinking utilities stay on the cutting edge of technological advancement.

Many industries are leveraging the power of cloud computing to revolutionize their processes, and the COVID-19 pandemic has further accelerated the need for software solutions that can be accessed remotely. Businesses are transitioning to more comprehensive digital processes with cloud solutions at their core.

The 117th United States Congress is now set following two runoff elections in Georgia which have given the Democratic party control over 50 seats in the Senate and the tie-breaking vote through Vice President-elect Kamala Harris. With control of both chambers of Congress and the Presidency, Democrats are now poised to pursue more ambitious policy changes, including a proposed increase to the corporate tax rate.

On August 14, 2020, the Internal Revenue Service (IRS) issued PLR 202033002 to address outstanding ruling requests on the application of the Section 168 normalization rules to cost of removal (COR). The IRS concluded that the net deferred tax liability (DTL) created by COR is not protected by the normalization rules but did not provide guidance on the actual implementation of the ruling’s conclusions.

Data quality is not just an IT problem, it is a business problem. This may not be a pleasant realization for executives who have other things to think about and expect someone on their team to be taking care of such issues. But when your company is attempting to cultivate relationships with customers, shareholders, regulators, and auditors, and you cannot deliver on promises because your data does not back you up, your data problem is now everyone’s problem

Lucasys, a leading provider of cloud accounting, tax, and financial reporting solutions, today announced the completion of its SOC 2 Type 1 audit certification.

The Tax Cuts and Jobs Act, signed into law on December 22, 2017, has placed a responsibility on companies to understand the various complexities within the law and to assess the accounting and financial reporting impacts on their organizations. For rate-regulated utilities, certain changes in tax law have put a spotlight on the interplay of rate-making and accounting activities. In particular, the reduction of the top corporate income tax rate from 35% to 21% has initiated a cascade of activities for rate-regulated utilities.

As we fire up the grills and bring out the burgers and hot dogs, we also take time to remember those qualities that set the United States apart. Since that summer in 1776, independence has been a core tenet of the psyche of the American identity. But there is something more that sets this country apart: American individualism.