CCF Holding Company announced today the acceleration of principal payments associated with its internally leveraged Employee Stock Ownership Plan
of 1995 and the Management Stock Bonus Plan of 1995.
133(a) allows a bank to exclude from gross income 50% of the interest received on loans to leveraged employee stock ownership plans
(ESOPs) or their sponsoring corporations, to the extent that the loan proceeds are used to acquire employer securities for the plan.
33) The IRS also released for public comment its proposed field agent examination guidelines for leveraged employee stock ownership plans
(ESOPs), plans that may be top heavy, and limitations for defined contribution plans.