The IRS recently issued final regulations providing guidance on the reporting and payment of the excise tax on repurchases of corporate stock. These regulations do not finalize the proposed computational regulations on which ABA recently submitted comments. The Treasury Department and the IRS intend to finalize the proposed computational regulations in a separate Treasury decision after considering comments received with respect to those proposed regulations.
The agency also issued proposed regulations on the payment of tax by commercially acceptable means that would allow the IRS to directly accept payments of tax by credit or debit card without having to connect taxpayers to third-party payment processors. ABA is analyzing these regulations and will follow up with additional information in the coming weeks.
In addition, the IRS also recently issued final regulations on reporting requirements for brokers involved in digital asset transactions. The regs focus on reporting rules for custodial brokers and will require those entities to report gross proceeds on the sale of digital assets beginning in 2026 for all sales made in 2025. Starting in 2027, brokers must also report information on the tax basis for some digital asset sales made in 2026.
