April 18, 2024
Stock Buyback Tax ‘Funding Rule’ Changes Still Deemed Too Vague
In recent developments, the IRS released proposed regulations for the highly anticipated stock buyback excise tax which includes a subtle adjustment that narrowed the contentious 'funding rule'. Despite the adjustment, tax practitioners feel that some of the rules were too vague in terms of what should be reported. A&M Tax Managing Director, Kevin M. Jacobs shares his perspective on the proposed regulations and what companies should expect to document moving forward.