Recent Letter Ruling Allows Rollover of S Corporation ESOP Stock
May 1, 2002
Robert Reilly, CPA
Robert Schweihs, ASA
In IRS Letter Ruling 200122034, the Internal Revenue Service ruled that a rollover of S corporation stock into an IRA does not terminate the corporationÆs S taxpayer status if the corporation repurchases the stock immediately.
In this ruling, XYZ Comp ...