Introducing Lucasys Deferred Tax: a first-of-its kind software designed for rate-regulated utilities that provides comprehensive tracking of excess deferred taxes. This innovative software solution enables utilities to track complex tax and regulatory accounting requirements with ease, ensuring compliance with regulatory requirements and accurate reporting of tax balances.
Read MoreLucasys provides peerless expertise in managing deferred tax assets for rate-regulated utilities and works closely with its customers to incorporate their feedback into product development.
Read MoreOn August 14, 2020, the Internal Revenue Service (IRS) issued PLR 202033002 to address outstanding ruling requests on the application of the Section 168 normalization rules to cost of removal (COR). The IRS concluded that the net deferred tax liability (DTL) created by COR is not protected by the normalization rules but did not provide guidance on the actual implementation of the ruling’s conclusions.
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