JD Supra

IRS rules that a method of reflecting a federal income tax settlement in ratemaking violated the consistency rule of normalization

In PLR 201828010, the Internal Revenue Service (IRS) considered the proper ratemaking treatment for reflecting the results of a federal income tax settlement. The taxpayer was a member of an ...
JD Supra

IRS clarifies the corrective measures a regulated transmission utility must undertake to avoid a normalization violation

In two recent private letter rulings (PLRs 201930015 and 201930016), the Internal Revenue Service (IRS) clarified the corrective measures a regulated transmission utility must undertake to avoid a ...