Daily Tax Report ®

White House Office Reviewing Nuclear Decommissioning Fund Rules

Dec. 5, 2019, 4:12 PM

The White House regulatory review office is examining a revision of tax rules for contributions to nuclear plant decommissioning funds.

In 2016 the IRS proposed changes (REG-112800-16) to regulations for deductions taken for such contributions as more plants started the decommissioning process. The changes were also meant to clarify prior rules under tax code Section 468A.

  • Section 468A allows taxpayers to deduct payments they make to nuclear decommissioning reserve funds, the income stemming from which is taxed at 20%, up to an amount allowed by the IRS.
  • The IRS sent the final rules to the White House...
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