Featured Jobs


NQ Client Services Manager (Lake Mary FL / Dallas TX)

Senior Qualified Plan Administrator (Miamisburg OH)

Regional Sales Vice President, Outside Retirement Sales Consultant (Marlton NJ / Telecommute)

Compliance Manager (Ponte Vedra Beach FL)

Compliance Administrator III (Chico CA / Telecommute)

Retirement Plan Administrator (San Diego CA)

Free Daily News and Jobs

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Get the BenefitsLink app LinkedIn
Twitter
Facebook

<< Previous news item   |   Next news item >>



6/11/2004: IRS Says Leveraged ESOP Contributions Deductible in Addition to Other Contributions (National Center for Employee Ownership [NCEO])
For many years, there has been uncertainty about whether contributions to repay the principal on an ESOP loan are deductible in addition to contributions made to 401(k), profit sharing, and other defined contribution retirement plans. Now the IRS has issued a private letter ruling that states, 'Section 404(a)(9)(A) [of the Code] allows a separate deduction for contributions applied by an ESOP to the repayment of principal of a loan.'
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above).
An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).
© 2019 BenefitsLink.com, Inc.