N-2019-33: Request for Comments on Necessary Clarifications to Normalization Requirements for Excess Tax Reserves Resulting from the Corporate Tax Rate Decrease
Internal Revenue Service (IRS) sent this bulletin at 05/07/2019 03:00 PM EDT
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Issue Number: ##line "Issue Number"##Inside This IssueNotice 2019-33 requests comments about normalization issues that have arisen or are anticipated in ratemaking proceedings due to the decrease in the corporate tax rate under § 11 of the Internal Revenue Code (Code) that was included in the Tax Cuts and Jobs Act, Pub. L. 115-97, enacted on December 22, 2017. Based on comments received from stakeholders, we expect to issue future guidance under § 168(f)(2) and (i)(9) of the Code addressing excess deferred income taxes and public utility companies. Notice 2019-33 will be in IRB: 2019-22, dated 5/28/19. Thank you for subscribing to IRS GuideWire, an IRS e-mail service. If you are a Tax Professional and have a specific concern about your tax situation, call the IRS Practitioner Priority Service 1-866-860-4259. This message was distributed automatically from the IRS GuideWire mailing list. Please Do Not Reply To This Message. |