WASHINGTON, Nov. 24 -- Internal Revenue Service has issued a rule called: Excise Tax on Repurchase of Corporate Stock.
The rule was published in the Federal Register on Nov. 24 by Frank J. Bisignano, Chief Executive Officer.
Summary: This document contains final regulations that provide guidance regarding the application of the excise tax on repurchases of corporate stock made after December 31, 2022. The regulations affect certain publicly traded corporations that repurchase their stock or whose stock is acquired by certain specified affiliates.
For more information, contact Concerning * 58.4501-7, Brittany N. Dobi of the Office of Associate Chief Counsel (International) at 202/317-5469 (not a toll-free number). For all other issues, Ka...