By now, all companies sponsoring ESOPs should be aware that their plan documents must be restated and submitted to the IRS every five years for a letter of determination of their tax qualified status. What they may not realize is that the ...
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Health Care Reform: Are You A “Large” Employer
A large employer is one that for a year employed an average of at least 50 full-time employees (at least 30 hours per week) on business days during the preceding calendar year. In order to make this determination, the employer must not only count all ...
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ESOPS & Limited Liability Companies: Converting To A Corporation
Want an ESOP But Have an LLC? Convert!
Business owners frequently choose to operate as a limited liability company (LLC) because it provides for a less formal governance structure and the option to be taxed as a partnership. But, the ...
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The Delinquent Filer Voluntary Compliance Program – Over-The-Counter Relief
In 1995, the Department of Labor (DOL) established its Delinquent Filer Voluntary Compliance (DFVC) Program to enable plan sponsors to file all the appropriate returns and to pay reduced penalties.
If you have an employee benefit plan for which an ...
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ERISA Section 510 Claims
ERISA section 510 makes it unlawful for any person to discharge, fine, suspend, expel, discipline, or discriminate against a participant or beneficiary for exercising any right to which he is entitled or may become entitled under an ERISA plan. ...
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Corporate Succession Planning And The CPA
There is no denying that all privately held companies will, at some point, be sold to or merge with a third party, transferred to family members, sold to their employees – or not survive. Very few companies have the option of going public. Because ...
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