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Tax Repairs
Industry Proven Solution for Strategic Tax Management and Compliance

Regulators are holding companies accountable for not leaving money on the table for rate payers. PowerPlan’s robust and automated system is the best way to reduce your team’s burden while optimizing tax strategy.​

For regulated asset-intensive companies, tax repairs is often the single biggest deduction to taxable income. The IRS has provided several Safe Harbor procedures to guide how companies should account for repairs expenditures. However, aligning accounting processes and data requirements is no easy task. For more than a decade, PowerPlan has provided the industry-standard software solution to manage tax repairs calculations and enable CFOs to strategically manage their tax repairs expense while minimizing risk and maximizing productivity.​

Taming the tax burden with a powerful system.

Easy Compliance

Provides the platform needed to align with complex tangible property regulations for both linear and non-linear property.

Automated Tax Calculations

Automates the calculation of tax repairs and simplifies the analysis of calculated deductions and capital add-ons. 

Comprehensive & Configurable Testing

Enables automated testing of thousands of annual capital additions throughout the project lifecycle, from construction to placed-in-service.​

Tax Basis Adjustments

Easily recognize the benefit of your tax repairs deduction through automatic integration with PowerPlan’s Tax Depreciation and Deferred Tax solutions.​

Audit Support

Satisfies auditors’ and financial analysts’ needs via simplified balance sheet reconciliations.​

Retirement Tracking

Tracks fixed assets throughout their useful lives, from placed-in-serviced all the way to retirement, including basis adjustments.​

Flash Report: Safe Harbor Guidance for Natural Gas Distribution and Transmission Property.

The long wait is over. In April 2023, the IRS formally published Revenue Procedure 2023-15, known as the safe harbor method of accounting for tax repairs for natural gas distribution and transmission property. 

The tax repair experts at PowerPlan have been reviewing the new policy and putting together key considerations, including what PowerPlan is doing to prepare for future product solutions. 

For more see Gas Tax Repairs Revenue Procedure 2023-15.

By leveraging automation in capital project financial management, CFOs and tax leaders can focus on data to drive strategic decisions, making it easy to manage cash flow and optimize financial performance.​

The granularity of the data in PowerPlan enabled us to align operations, accounting and tax around new tax strategies. The result: we immediately recognized 200+% ROI the day after go-live.

Tax Director    |   


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