IRS issues initial guidance for new excise tax on stock buybacks and corporate alternative minimum tax

On December 27, 2022, the IRS issued two notices providing key initial guidance for the new excise tax on corporate stock buybacks and the new corporate alternative minimum tax (CAMT). Both the excise tax and the CAMT were enacted as part of the Inflation Reduction Act that Congress passed in August 2022.1

Filed under:
USA, Insolvency & Restructuring, Tax, Skadden Arps Slate Meagher & Flom LLP, Private equity, Excise, SPAC, Internal Revenue Service (USA), US Congress, Internal Revenue Code (USA)
Authors:
Thomas F. Wood , Scott H. Rabinowitz , Leonard Greenberg
Location:
USA
Firm:
Skadden Arps Slate Meagher & Flom LLP