IRS Private Letter Ruling
on Cost of Removal
IRS PRIVATE LETTER RULING 202033002: WHAT IT MEANS FOR YOUR BUSINESS
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.
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