On June 28, 2024, Treasury and the IRS filed final regulations regarding the payment and reporting aspects of the stock repurchase excise tax under section 4501 of the Code1 (Buyback Tax) (Final Regulations). The Final...more
7/18/2024
/ Excise Tax ,
Internal Revenue Code (IRC) ,
IRS ,
Proposed Regulation ,
Registered Investment Companies (RICs) ,
Regulatory Agenda ,
REIT ,
Reporting Requirements ,
RICs ,
Share Buybacks ,
Stock Repurchases ,
U.S. Treasury
On June 29, 2023, the Internal Revenue Service (IRS) issued Announcement 2023-18 (the Announcement), which provides transitional guidance with respect to the stock repurchase excise tax under section 4501 (the Buyback Tax)....more
On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (the IRA) into law. Among the provisions of the IRA is a nondeductible 1% excise tax on the repurchase of corporate stock (the Buyback...more