President Obama’s Fiscal Year 2014 budget contains a provision which proposes to eliminate the Internal Revenue Code Section 404(k) deduction, which allows a deduction for dividends paid on certain employer securities. The ESOP Association expressed disappointment with this proposal.
Click below to read the articles on ESOPAssociation.org and PLANSPONSOR.com.
https://www.plansponsor.com/obamas-esop-proposal-poses-concerns/