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Article: Major Companies Push IRS to Kill or Delay Proposal to Tax Stock-Option Plans.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- May 15, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Sue Kirchhoff, The Boston Globe Knight Ridder/Tribune Business News
May 15--WASHINGTON -- Major corporations, including Marriott International and Texas Instruments Inc., yesterday pressed the Internal Revenue Service to kill or delay a plan to impose payroll taxes on incentive stock options and employee stock purchase plans, warning the change would be so costly that many firms would drop the popular benefits.
Corporate executives testifying at a special IRS hearing complained the plan would be a nightmare to administer and would unfairly penalize workers. They raised the specter of multiple lawsuits, questioning whether the government had ...