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Internal Revenue Code (IRC) Employee Stock Ownership Plans Retirement Plan

Husch Blackwell LLP

Time to Restate? It's Not Too Late! Upcoming Restatement Deadlines for Pre-Approved Retirement Plans

Husch Blackwell LLP on

The Internal Revenue Service (IRS) regularly requires retirement plans to incorporate new laws and regulations. To ensure that pre-approved retirement plans incorporate these required legal and regulatory updates, the IRS...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Announces 2022 Limitations for Qualified Retirement Plans: Prices Aren’t the Only Thing Going Up

On November 4, 2021, the Internal Revenue Service (IRS) released the 2022 dollar limitations that apply to tax-qualified retirement plans. With few exceptions, the 2022 limitations published in Notice 2021-61 have been...more

Kilpatrick

2022 Qualified Retirement Plan IRS Indexed Dollar Limits Announced

Kilpatrick on

Today the IRS announced in Notice 2021-61 the cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2022 under the Internal Revenue Code. Nearly every...more

Williams Mullen

ESOP Essentials: Can My Company Offer An ESOP? Selected Tax Guidance on Choice of Entity, Business Structure and ESOPs

Williams Mullen on

An employee stock ownership plan (ESOP) is a type of tax-qualified retirement plan. ESOPs are designed to invest primarily in qualifying employer securities, as defined in applicable tax rules....more

Holland & Knight LLP

IRS: Most Price Protection Payments Received by ESOP Participants Are Currently Taxable

Holland & Knight LLP on

The IRS Office of Chief Counsel on Dec. 20, 2019, released a so-called Generic Legal Advice Memorandum (GLAM) that had been issued to Division Counsel within the IRS Tax Exempt and Government Entities Division. A GLAM is not...more

Stinson - Benefits Notes Blog

IRS Memorandum Limits Exceptions for Retaining Signed Retirement Plan Documents – (excuse that “my dog ate my plan documents” will...

Generally, for a tax qualified retirement plan to be adopted, the plan document must be signed and dated by the sponsoring employer and retained. However, in Val Lanes Recreation Center Corp. v. Commissioner of Internal...more

Stinson - Benefits Notes Blog

Annual Limits on Qualified Plans for 2020

On November 6, 2019, the Internal Revenue Service (IRS) released Notice 2019-59, which sets forth the 2020 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The...more

Williams Mullen

Benefit and Contribution Limits for 2020

Williams Mullen on

The Commissioner of Internal Revenue announced the 2020 dollar limitations for benefits and contributions that apply to retirement plans. Most limits have increased, while a few remained the same. The Social Security...more

Holland & Hart - Employers' Lawyers

Colorado Rolls Out A Welcome Mat For ESOPs

Employee stock ownership plans (“ESOPs”) are a special breed of qualified retirement plans. Whereas a traditional profit sharing or 401(k) plan is typically invested in mutual funds, an ESOP is designed to invest primarily in...more

Franczek P.C.

Department of Treasury Issues 2015-2016 Priority Planning Guide

Franczek P.C. on

The Department of the Treasury issued its 2015-2016 Priority Guidance Plan detailing projects that it intends on dedicating resources to in the coming year. There are numerous employee benefits-related items in the plan....more

Franczek P.C.

Employee Benefits Alert - July 2015

Franczek P.C. on

Major Revisions to Qualified Plan Determination Letter Process Announced - Effective January 1, 2017, the staggered five-year determination letter remedial amendment cycles for individually designed plans will be...more

Baker Donelson

ESOPs: The Tax Law Provides a Buyer for Your Business

Baker Donelson on

As baby boomer business owners begin to retire, many will want to monetize the value they have created in their businesses. An employee stock ownership plan (ESOP) is one alternative. The ESOP alternative, authorized by the...more

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