In this podcast, Sal Montalbano, PwC US Power & Utilities Tax Leader, covers excess deferred taxes and some of the new guidance that has been issued. He specifically covers revenue procedure 2020-39 that was recently released and touches on private letter ruling 202033002 which deals with cost of removal and how that works its way in excess deferred taxes.
0:53 - Background on excess deferred taxes
4:30 - What 2020-39 addresses
14:17 - What 2020-39 does NOT address
*This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.
US Tax Marketing Leader, PwC US