IRS and Treasury propose stock buyback tax rules for large corporations under Inflation Reduction Act of 2022.
The IRS and Treasury Department have proposed rules for the stock buyback tax for large corporations, as part of the Inflation Reduction Act of 2022. This aims to ensure large corporations pay their fair share, providing clarity on how to calculate and pay the new excise tax on corporate stock buybacks. The proposed rules aim to change the tax code's preference for stock buybacks and encourage corporations to reinvest profits in workers, growth, and innovation.
April 09, 2024
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