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...