It is often the case under the Internal Revenue Code (“Code”) that adherence to procedural rules is crucial to secure tax benefits. Failure to meet these procedural conditions can result in...
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ESOP
A New “One Percent” Tax Issue – Proposed IRS Regulations on the Excise Tax on Stock Repurchases
The Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”), in an April 2024 follow-up to IRS Notice 2023-2, issued proposed regulations dealing with the one-percent excise...
New Tree Co. Owners Can’t Lodge Suit Over Defunct ESOP
New Tree Co. Owners Can't Lodge Suit Over Defunct ESOP - Thomas Clark, Jr., Lee Polk, Stephen Wilkes, Law360, July 26, 2024 (PDF)
Developments on the ESOP Front
By Jon Schultze, Andrew Oringer and Barry Salkin Employee stock ownership plans (“ESOPs”) are retirement plans that provide employees with the opportunity to own stock of their employer. Congress...
Department of Labor Recovers $22.5 million for ESOP
Department of Labor Recovers $22.5 million for ESOP - Andrew Oringer, PLANSPONSOR, September 13, 2023 (PDF)
Churchill Holdings ESOP Participants Sue
Churchill Holdings ESOP Participants Sue - Andrew Oringer, PLANSPONSOR, June 2, 2023 (PDF)
ESOP Plan Faces Retirement Records Lawsuit
ESOP Plan Faces Retirement Records Lawsuit - Andrew Oringer, PLANSPONSOR, January 5, 2023 (PDF)
Secure Act 2.0 Brings a Litany of Retirement Changes
By Roberta Watson, Barry Salkin and Alex Olsen The SECURE Act 2.0 of 2022 (“SECURE 2.0”, or the “Act”) became law as part of the Consolidated Appropriations Act of 2023. SECURE 2.0 builds on the...
WEBINAR: Fiduciary Compliance in ESOP Transactions: Recent DOL Settlement Agreements and Best Practices for Counsel
Fiduciary Compliance in ESOP Transactions: Recent DOL Settlement Agreements and Best Practices for Counsel - Roberta Casper Watson, Strafford live CLE webnar, August 4, 2022, 1:00 - 2:30 M (EDT) -...