IRS T.D.: Excise Tax on Repurchase of Corporate Stock, Procedure and Administration (IRC §4501)

Final regulations that provide guidance regarding the reporting and payment of the excise tax on repurchases of corporate stock made after Dec. 31, 2022 under I.R.C. §4501 pursuant to the Inflation Reduction Act of 2022, the IRS released. The regulations affect certain publicly traded corporations that repurchase their stock or whose stock is acquired by certain specified affiliates, the IRS noted. [T.D. 10002, RIN 1545-BQ60, 89 Fed. Reg. __ (June 28, 2024)]

This story was produced by Bloomberg Tax Automation and edited by Bloomberg Tax staff.