In Notice 2007-86 (October 22, 2007), the IRS has extended the time for compliance with the deferred compensation rules under Internal Revenue Code Section 409A through December 31, 2008. This does not mean companies can ignore the law until then.
Unable to come up with final regulations in time for companies to implement changes by the end 2006, the IRS has postponed the effective date of new deferred compensation requirements under Internal Revenue Code Section 409A until the end of 2007.
On September 2, 1974, President Gerald Ford signed the Employee Retirement Income Security Act, the first federal law that provided specific federal tax treatment for employee stock ownership plans (ESOPs).
A recent survey of 3,000 North American companies by the American Compensation Association found that 63% offered stock options to at least some employees in 1998. 55% of the companies indicated that their option plans would be extended further downward in the organization in 1999.
According to a study by Jack Ciesielski of the Analyst's Accounting Observer Newsletter, 887 companies accelerated options vesting between 2004 and 2006, thus avoiding reporting an estimated $6 billion in accounting costs.
Precision Pulley and Idler (PPI) is a 100% ESOP company that provides high performance and innovative conveyor products. It has done four acquisitions. This article looks at the methods and issues involved in three of them.
The Antioch Company in Yellow Springs, OH, has filed for Chapter 11 bankruptcy. Antioch is one of the more remarkable ESOP stories. A small printing company with a long history of pro-employee policies, it set up an ESOP in 1979.
Lots of us love Dickens’s A Christmas Carol. The tale of Ebenezer Scrooge’s dream-tormented epiphany about what really matters in life has resonated deeply with people of all ages ever since it was published.
