Private letter ruling

Carver Edison Receives Historic IRS Letter Ruling, Launches With NASDAQ Issuer

Retrieved on: 
Wednesday, April 24, 2019
Taxation in the United States, Tax, Employee stock option, Economy, Money, Employee stock purchase plan, Investment, ESPP, Internal Revenue Service, Private letter ruling, Betterment, Edison

On the heels of its latest fundraising round led by Eli Broverman, Co-founder of Betterment, Carver Edison also announced today the release of its landmark private letter ruling from the IRS.

Key Points: 
  • On the heels of its latest fundraising round led by Eli Broverman, Co-founder of Betterment, Carver Edison also announced today the release of its landmark private letter ruling from the IRS.
  • In its private letter ruling, the IRS definitively concluded that a public company can implement a Carver Edison ESPP Loan Program while retaining qualified tax status for its Employee Stock Purchase Plan.
  • Carver Edison's letter ruling is the first the IRS has issued related to ESPPs in 14 years and is an important step forward for both Carver Edison and the stock plan administration industry.
  • Carver Edison is a New York Citybased financial technology company committed to revolutionizing Employee Stock Purchase Plans.

Former IRS Associate Chief Counsel (International) Joins EY

Retrieved on: 
Wednesday, March 6, 2019
Tax, Taxation in the United States, Internal Revenue Service, Tax investigation, Ernst & Young, Michael J. Desmond, Private letter ruling

Rollinson comes to EY from the US Internal Revenue Service (IRS), where she served most recently as the Associate Chief Counsel (International).

Key Points: 
  • Rollinson comes to EY from the US Internal Revenue Service (IRS), where she served most recently as the Associate Chief Counsel (International).
  • Rollinson was selected as the IRS Associate Chief Counsel (International) in the spring of 2016, and until February 2019 led the office responsible for legal advice, guidance and support to the IRS, Treasury and the public on international tax issues in all procedural postures.
  • Before becoming the Associate Chief Counsel, she served as the Deputy Associate Chief Counsel from October 2013 to March 2016.
  • This news release has been issued by Ernst & Young LLP, a member firm of EY serving clients in the US.