On January 9, 2020, the Tax Court issued a Memorandum Opinion in the case of Ed Thielking Inc. v. Commissioner (T.C. Memo. 2020-5). The issue presented in Ed Thielking Inc. v. Commissioner was whether a corporate Employee Stock Ownership Plan (ESOP) and an Employee Stock Ownership Trust were qualified under IRC § 401(a) and IRC § 501(a), respectively. Background to Ed Thielking Inc. v. Commissioner The petitioner is an S corporation, incorporated in March 2006. Effective