Deloitte Tax looks at guidance on reporting and payment requirements for stock buyback excise tax
The Internal Revenue Service recently announced that no reporting or payments of the new excise tax imposed on certain stock repurchases are required before the time specified in forthcoming Treasury regulations. The excise tax was enacted under the Inflation Reduction Act of 2022 (P.L. 117-169) and applies to repurchases made after December 31, 2022.
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A new alert from Deloitte Tax LLP provides an overview of the announcement.
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