One of the headline tax changes in the Inflation Reduction Act of 2022, Public Law 117-169, is a 1% excise tax on stock repurchases by public companies. New Section 4501 of the Internal Revenue Code applies a non-deductible...more
1/13/2023
/ De Minimus Doctrine ,
Dividends ,
Excise Tax ,
Fair Market Value ,
Inflation Reduction Act (IRA) ,
Internal Revenue Code (IRC) ,
Leveraged Buyout ,
Liquidation ,
Loan buy-backs ,
Reorganizations ,
Stock Repurchases ,
U.S. Treasury
One of the headline tax changes in the Inflation Reduction Act of 2022, Public Law 117-169, is a 1% excise tax on stock repurchases by public companies. Public issuers should be aware that the new tax, which applies beginning...more
As we reported in COVID-19: Revisiting Shareholder Rights Plans, the turmoil in U.S. equity markets created by the COVID-19 pandemic has resulted in many companies facing depressed stock prices, leaving them vulnerable to...more
In our prior nonprofit alert, we reported that the Internal Revenue Service (the “IRS”) had not extended most federal tax payment and filing deadlines for exempt organizations. The IRS notices issued up to that point (Notice...more
On April 1, 2020, The U.S. Department of Labor issued temporary regulations interpreting the Families First Coronavirus Response Act (FFCRA). The FFCRA provides certain employees who are unable to work due to the COVID-19...more
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) and the Families First Coronavirus Response Act (“FFCRA”) provide eligible employers with refundable payroll tax credits for certain wages paid to...more
Federal tax law changes enacted with the Tax Cuts and Jobs Act of 2017 may require tax-exempt organizations to reevaluate their compensation practices, particularly with respect to employee severance. Section 4960 of the...more
The Tax Act makes changes to the tax treatment of fringe benefits that impact both employers and employees. Employers are now denied certain deductions to which they were previously entitled, including expenses for parking...more
We previously reported to you that the Massachusetts Department of Revenue (DOR) had revoked Directive 17-1 requiring the collection of Massachusetts sales and use taxes by Internet vendors that meet certain sales thresholds...more