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
May. 26
The ESOP Association has mobilized its advocacy teams to provide support for legislation that helps fund critically needed education and state centers for employee ownership. The amendment, sponsored by Kansas Senator Jerry Moran (R) and Vermont Senator Bernie Sanders (I) provides $50 million in spending authority over the next four years.
May. 19
The ESOP Association encourages Congress to strengthen The Endless Frontier Act (S. 1260) by supplementing it with the bipartisan Sanders/Moran WORK Act Amendment, which provides critical resources to educate business owners about the benefits of employee ownership and the economic and competitive stability that flows from it. Business longevity and succession planning for the millions of current American businesses facing the retirement of their owners is an essential element to any long-term American competitive strategy.
May. 19
Inaugural Public Policy Council Appointed
Group Will Help Lead Employee Ownership Policy at The ESOP Association
May 18, 2021, Washington, D.C. – The ESOP Association’s Board of Directors is proud to announce the inaugural members of its Public Policy Council (PPC), led by Executive Committee Chair Peter Ney of EA Engineering and eight other members of the of the Executive Committee.
May. 05
Seeking to ride a wave of retiring business owners and the rising attention being given to employee ownership as a solution for wealth and income disparities, The ESOP Association is making a multi-year, multi-million dollar investment into government relations and public awareness.