senate hearing, ESOP tax benefit, S corporations, GYF, Grossman Yanak & Ford LLP, Pittsburgh, CPAs

Recent Senate Hearing Reinforces Interest in Extending ESOP Tax Benefit to S Corporations

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The Senate Finance Committee in Congress held a recent hearing at the 215 Dirksen Senate Office Building titled: “Helping Americans Prepare for Retirement: Increasing Access, Participation and Coverage in Retirement Savings Plans.” Appearing as witnesses at the hearing were: Dr. Alicia Munnell Peter F. Drucker Professor of Management Science, Director Boston College Carroll School of […]

Proposed Legislation Favorable to S Corp ESOPs

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In a move that is pro employee ownership and positive for business, as well, lawmakers in both the House and Senate have recently re-introduced legislation to encourage the creation of employee stock ownership plans (ESOPs) in S Corporations. For some time, certain provisions in the ESOP rules have favored conversions of businesses operating as subchapter […]