The Treasury proposed regulations to the Office of Management and Budget’s Office of Information and Regulatory Affairs for review about Superfund excise taxes on some chemicals and the hazardous substances that were reinstated by the Infrastructure Investment and Jobs Act.
A new nondeductible 1% excise tax imposed on certain stock repurchases (enacted as new section 4501 as part of the Inflation Reduction Act on August 12, 2022) (the "Stock Buy-back Excise Tax") went into effect on January 1, 2023.