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Depreciation › Internal Revenue Service › Accumulated Deferred Income Tax (ADIT)

Eversheds Sutherland (US) LLP

PLR on the normalization of cost of removal and accounting method changes for repairs and mixed service costs, but questions...

Eversheds Sutherland (US) LLP on

On August, 15, 2020, the Internal Revenue Service (IRS) issued PLR 202033002, in which it addressed whether cost of removal (COR) is “protected” by the normalization rules of section 168(i)(9). COR is often embedded in a...more

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