Federal Tax Update: IRS Warning for Certain ESOP Porgrams

https://vimeo.com/854043438?share=copy

https://www.currentfederaltaxdevelopments.com/podcasts/2023/8/12/2023-08-14-irs-issues-warning-for-certain-esop-programs

 

This week we look at:

• Deduction for non-qualified deferred compensation not accelerated for the seller when the liability is transferred to the buyer of a business
• Tax professionals and taxpayers warned about issues with certain employee stock ownership plan (ESOP) arrangements
• Reduction of non-recourse debt amount was added to sales proceeds, not a cancellation of debt so no §108 relief was available