§88 — Certain amounts with respect to nuclear decommissioning costs
25 cases·3 followed·1 questioned·21 cited—12% support
Statute Text — 26 U.S.C. §88
In the case of any taxpayer who is required to include the amount of any nuclear decommissioning costs in the taxpayer’s cost of service for ratemaking purposes, there shall be includible in the gross income of such taxpayer the amount so included for any taxable year.
Treasury Regulations
- Treas. Reg. §Treas. Reg. §1.88-1 Nuclear decommissioning costs
- Treas. Reg. §Treas. Reg. §1.88-1(a) In general.
- Treas. Reg. §Treas. Reg. §1.88-1(b) Examples.
- Treas. Reg. §Treas. Reg. §1.88-1(c) Cross reference.
- Treas. Reg. §Treas. Reg. §1.88-1(d) Effective date.
25 Citing Cases
In another variation, section 88 provides that nuclear decommissioning costs that are built into costs of - 40 - services for ratemaking purposes "shall be includible in the gross income of such taxpayer".5 (Emphasis added.) Obviously, Congress has used the terms "includes", "included", and "includible" interchangeably.
88 (nuclear decommissioning costs are “includible” in gross income). Judge Ruwe’s dissent uses the word “included” in section 83(a) to construe the word “included” in section 83(h). Although the choice of “included” or “includible” in section 83(a) would not affect our reading of that subsection, Judge Ruwe’s dissent’s substitution of “includi
ing in the Code or the regulations "suggests that the IRS is obligated to take additional steps to effectuate delivery ifthe notice is returned." Armstrong v. Commissioner, 15 F.3d at 975- 976 (quoting King v. Commissioner, 857 F.2d 676, 681 (1988), § 88 T.C. 1042 - 11 - [*11] (1987)). Once the notice ofdeficiency is properly mailed, the Commissioner may assess the tax after waiting the appropriate time. I_d. Petitioner contends that the Bucyrus address where respondent mailed the notice ofdefic