The IRS largely stuck with its approach in 2016 guidance when issuing final rules for deductions on contributions to reserve funds for shutting down nuclear power plants.
The final rules released Thursday (T.D. 9906; RIN: 1545-BN42) alter regulations tied to tax code Section 468A, which allow taxpayers to deduct payments they make to nuclear-decommissioning reserve funds.
The IRS in 2016 proposed changes (REG-112800-16) to regulations for deductions on contributions to the reserve funds as more plants started the decommissioning process.
The proposed regulations confirmed that a requirement that an ...
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