Mary McCooe will be presenting on Internal Revenue Code section 409(p) at the Employee Owned Conference in Las Vegas on November 12, 2022. Section 409(p) was enacted to prevent the use of S corporation employee stock ownership plans (ESOPs) as abusive tax shelters and to ensure that a broad range of rank and file employees benefit from ESOP tax advantages. Compliance with 409(p), however, can be tricky. Mary will share pitfalls to avoid and IRS-approved methods to prevent 409(p) test failures.