Overview
On August 18, 2022, Bloomberg quoted Lisa Zarlenga in a piece titled "Tax Specialists Seek IRS Guidance on New Stock Buyback Tax." The article discusses clarification needed in regards to the stock buyback tax included in the Inflation Reduction Act (IRA). Tax specialists have said there are queries about what the types of transactions would trigger the tax.
A question that attorneys want the answer to is to what extent the tax applies to merger-and-acquisition transactions. Zarlenga, said in relation to this, "…the statutory language is a bit ambiguous…"
The full article can be read on Bloomberg (subscription required).
