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    ESOPs Fable

    Article Once upon a time there were two companies, Hare Industries and Tortoise Enterprises. Both companies were reasonably successful, comfortably profitable, privately owned companies. Seeking ways to share ownership with employees, both company’s owners and managers sought advice from professionals.
    Published on June 01, 2011

    Deduction for ESOP Distributions Disallowed

    Article The Eighth Circuit reversed a district court and held that a corporation was not entitled to a deduction for cash distribution redemptive dividends paid by the corporation’s employee stock ownership plans to plan participants who left the corporation.
    Published on January 28, 2011

    Benefiting From Unique Attributes of ESOPs

    Article An employee stock ownership plan (ESOP) is a stock bonus plan or a combination of a stock bonus plan and money purchase pension designed to invest primarily in stock of the employer
    Published on July 23, 2013

    Tracking Tax Basis in an S Corp. ESOP

    Article ...Editor: Frank J. O'Connell, Jr., CPA, Esq. Employee stock ownership plans (ESOPs) currently cover 10 million employees in the U.S. participating in approximately 11,000 plans, according to the ESOP Association. With the number of plans expected to increas
    Published on April 20, 2010

    Six-Year Statute of Limitation Applies to Assessment

    Article The Tax Court held that the six-year statute of limitation of Sec. 6501(e)(1)(A) applied to an assessment of tax based on a distribution from an ESOP because the taxpayer had not adequately disclosed the distribution on his tax return
    Published on August 31, 2014

    Current Developments in S Corporations (Part II)

    Article This article covers S corporation operational issues.
    Published on May 10, 2010

    AICPA News Update - January 11, 2013

    Newsletter In this issue: IRS Delays Start of Tax Season to Jan. 30; AICPA Survey: Most AICPA Members Believe Deficit Reduction Should Be Government’s Top Economic Priority; AICPA and NYSSCPA Release Modifications of Form TC309 for NYC Certiorari Filings; Have You Seen the New Journal of Accountancy Mobile Website?; Free Webinar:
    Published on January 15, 2013

    Earnout Restriction Causes Substantial Risk of Forfeiture

    Article The Tax Court held that sections of a restricted stock agreement and an employment agreement read together constituted an earnout restriction that might create a substantial risk of forfeiture for stock transferred to an employee.
    Published on February 28, 2014

    Partners Limited Liability and Self-Employment Tax

    Article The decision in Renkemeyer, Campbell & Weaver, LLP, signals that special allocations not supported by a written partnership agreement and without substantial economic effect will not withstand an IRS challenge and that classification of an interest in a partnership as a limited partner interest should not be predicated simply on
    Published on June 30, 2011

    Make Room on the Shelf One More Tax Reform Report

    Article Annette Nellen
    Published on January 28, 2011

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