Treasury Proposed Stock Buyback Tax Rules in Final Review Stages

The Treasury Department and IRS plan to drop a long-awaited proposed guidance package for the 1% stock repurchase excise tax in the coming weeks, after pushing back the release for months.

Department of the Treasury Tax Legislative Counsel Krishna Vallabhaneni said the rules likely won’t come out this week, but they are in the final stages of review.

“These regs on the excise tax are likely to come out in a matter of weeks, not months,” Vallabhaneni said Monday at the Tax Executives Institute 2024 Midyear Conference.

The buyback tax imposes a 1% excise tax on corporations’ stock repurchases. ...