On April 9, 2024, the Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “IRS”) issued two sets of proposed Treasury Regulations related to section 4501, REG-115710-22, which provides guidance on the application of section 4501, and REG-118499-23 (together with REG-115710-22, the “Proposed Regulations”), which provides guidance on the reporting and payment of the excise tax.
Source: Proposed Regulations Issued on the Excise Tax on Repurchases of Corporate Stock