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Industry: Email Alert RSS FeedCompany stock free from employer withholding—for now - IRS News - Brief Article
California CPA, August, 2002
The IRS will not forge ahead with a plan to force employers to withhold Social Security and other payroll taxes on company stock that employees buy through options or company purchase plans.
According to congressional estimates, the taxes were expected to cost employees a total of $23 billion over 10 years.
Employees still owe regular income taxes on their stock and option profits, and the IRS decision has no bearing on non-qualified stock options.
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However, IRS officials say they will continue to evaluate the suggestions and legal arguments they received after issuing the proposed regulations last year. If they do go ahead, businesses can count on a two-year warning before implementing any final rules.
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