Welcome to your September Issue of the ESOP Report. This month we've packed the report with tons of articles and news about ESOPs that you won't want to miss!
Inside this Issue:
The ESOP Association
ESOP Association Resources
Sep. 28
This is the first in a series of three articles regarding the preparation of the Section 409(p) test specific to S-Corporation ESOPs. Previously published articles have provided a general overview of how the test works and the dire consequences of failing the test, but this series will describe the mechanics and information required to perform the test.
Sep. 25
INSIDE THIS ISSUE
LETTER FROM THE PRESIDENT
UPCOMING EVENTS
FALL CONFERENCE
ANNOUNCEMENTS
TRIBUTE TO CINDY
ESOPATHON
CHAPTER OFFICERS
MYSTERY BAGS
OFFICER SPOTLIGHT
STATE CAPTAINS
COMPANY MENTORSHIP
CHAPTER SPONSORS
Read the full issue here >>
LETTER FROM THE PRESIDENT
UPCOMING EVENTS
FALL CONFERENCE
ANNOUNCEMENTS
TRIBUTE TO CINDY
ESOPATHON
CHAPTER OFFICERS
MYSTERY BAGS
OFFICER SPOTLIGHT
STATE CAPTAINS
COMPANY MENTORSHIP
CHAPTER SPONSORS
Read the full issue here >>
Sep. 22
Notice to Taxpayers is Heavy on Innuendo, Light on Specifics
On August 9, the Internal Revenue Service issued a statement suggesting a greater focus in the next year on S-Corp ESOPs and tax compliance, particularly for companies with a parent holding or management company structure and certain owner finance arrangements. While very short on specifics, the IRS communication appears to be driven by aggressive marketing of ESOP plans by some, although the IRS provides no specific examples of where an ESOP has been used in the manner they suggest.
On August 9, the Internal Revenue Service issued a statement suggesting a greater focus in the next year on S-Corp ESOPs and tax compliance, particularly for companies with a parent holding or management company structure and certain owner finance arrangements. While very short on specifics, the IRS communication appears to be driven by aggressive marketing of ESOP plans by some, although the IRS provides no specific examples of where an ESOP has been used in the manner they suggest.
Sep. 18
In early August, judges convened at The ESOP Association’s headquarters in Washington, DC, to review all entries submitted for the 2023 Annual Awards for Communications Excellence, or the AACE Awards.
The competition for this year’s AACE Awards was fierce, with ESOPs submitting more exceptional entries than in 2022, making the judges’ job much harder. Entries are accepted from TEA members divided into two categories:
The competition for this year’s AACE Awards was fierce, with ESOPs submitting more exceptional entries than in 2022, making the judges’ job much harder. Entries are accepted from TEA members divided into two categories:
Sep. 08
Employee Ownership Foundation’s New ESOP Employee Accelerator Program Teaches Lifelong Business & ESOP Knowledge, Helps Employees Think and Act Like Owners
ESOP Blog, Resource, Government Affairs
Nov. 29
A quick glance at the results of the mid-term elections might leave one feeling that the ESOP community will face challenging days ahead. Certainly the retirement and defeat of key ESOP advocates in Congress—primarily in the House, where tax laws originate—pose a challenge. But there is good news too.
The "Bad" News
First, let’s look at the more challenging news.
We will lose some crucial, long-time ESOP Advocates next year.
The "Bad" News
First, let’s look at the more challenging news.
We will lose some crucial, long-time ESOP Advocates next year.
Resource, ESOP Report, Legal Update, Ownership Advantage, Washington Report, Economic Performance Survey, Valuation, Insufficient Assets, Employee Ownership Month
Nov. 01
Members of The ESOP Association and the public show even greater interest in celebrating Employee Ownership Month.