The US Department of the Treasury and the Internal Revenue Service recently issued long-awaited proposed regulations under Section 4501 of the Internal Revenue Code regarding the 1% stock buyback excise tax. The tax applies to stock repurchases and “economically similar transactions” undertaken by publicly traded US (and certain foreign) corporations beginning on January 1, 2023.

On December 27, 2022, the US Treasury Department and the Internal Revenue Service (“IRS”) issued Notice 2023-2 (the “Notice”), which provides taxpayers interim guidance (until regulations are issued) on how the new 1% excise tax on stock-buybacks will be imposed and administered. The new 1% excise tax was enacted last summer as part of the

If you thought the recent price increase at your neighborhood store was inflation’s last flop, think again. The Inflation Reduction Act (“IRA”), which was signed into law by President Biden on August 16, 2022, is estimated to raise $739 billion over the decade. The IRA is financed primarily by several targeted tax increases. Revenues will