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IRS Private Letter Ruling

on Cost of Removal


In August 2020, the IRS issued a Private Letter Ruling (PLR) for a regulated utility stating that deferred taxes related to cost of removal (COR) are not subject to normalization rules. Several subsequent PLRs have been issued to date, with the most recent one being issued in July 2022.

Don’t be caught off guard if this becomes a Revenue Ruling. 

Our tax experts have put together this two-page Insight summary of what you should be considering right now. What it covers:

  • Background on COR Accounting for regulated entities.
  • Potential implications for your PowerTax COR configuration and what you should analyze now in order to be ready. 
  • Why you should be talking to your regulators, tax advisors and auditors sooner rather than later.

We urge you to review this brief document and share with others on your team. It will likely prompt questions and concerns that we'd be glad to discuss with you. Contact your account manager, or email us at

Access Insight Summary

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