June 24, 2008 (Washington, DC) – On June 23, 2008, The ESOP Association submitted comments to the Internal Revenue Service (IRS) concerning IRS Form 8717, in regard to exemption from user fees, and IRS Form 5309, regarding the need to identify employer’s taxpayer status, identification of plan sections, sections, 6(c), (d), (e), 6(h), and section 9. The comments asked that the forms be simplified to alleviate confusion and to augment the quality of the information being submitted.
“The ESOP Association is pleased to work with the IRS in ensuring the laws governing ESOPs are implemented in accordance with Congressional intent and as effectively as possible,” said J. Michael Keeling, President of The ESOP Association.
The core cause of The ESOP Association is the belief that employee ownership will improve American competitiveness, increase productivity through greater employee participation, and strengthen our free enterprise economy.
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To view a copy of the comments, click here.