IRS Seeks Public Comment on Burden Related to Contributions for Aid of Construction
May 12, 2025
May 12, 2025
WASHINGTON, May 12 (TNSFRinfo) -- The U.S. Department of the Treasury Internal Revenue Service (IRS) is inviting public comment on the burden associated with information collection concerning contributions in aid of construction under section 118(c) of the tax code.
This regulation provides guidance on the treatment of contributions received by regulated public water or sewage utilities, allowing them to be considered contributions to capital and excluded from gross income.
This regulation provides guidance on the treatment of contributions received by regulated public water or sewage utilities, allowing them to be considered contributions to capital and excluded from gross income.