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.
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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 >>
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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.
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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:
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Sep. 08
Employee Ownership Foundation’s New ESOP Employee Accelerator Program Teaches Lifelong Business & ESOP Knowledge, Helps Employees Think and Act Like Owners
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Jun. 26
On June 22nd, the Small Business Administration (SBA) and Department of the Treasury released revisions to the interim final rule on forgiveness and the interim final rule on loan review procedures for PPP loans.
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Jun. 24
Companies planning to re-open their doors have a new resource to help them: The Occupational Safety and Health Administration (OSHA) has released guidance employers should use when developing policies and procedures that ensure the safety and health of their employees.
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Jun. 22
As companies re-open and the standards change for how to remain safe, communicating with employee owners will become even more important—and more challenging.
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Program Research
Jun. 20
For nearly the last decade, the Employee Ownership Foundation has provided the funding necessary to collect data regarding employee ownership as part of the General Social Survey (GSS). This survey, and the data it produces, is considered the gold-standard for data used by academic researchers interested in studying the American population. The data is openly available and has subsequently been used by academics to better understand Americans’ attitudes toward employee ownership and the impact it has on their lives. This new report published by Dr. Joseph Blasi and Dr. Doug Kruse of Rutgers University analyzed the newest release of GSS data and observed the overwhelming and uniquely bi-partisan support for employee ownership across all demographics and citizen profiles.
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