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Client Alert - IRS Proposes Regulations on How the Qualified Business Income Deduction (199A) Will Apply to Estates and Trusts

August 17, 2018

The Tax Cuts and Jobs Act of 2017 (the "Act") created a new deduction under section 199A of the Internal Revenue Code for Qualified Business Income.  The new deduction allows the owner of an interest in a pass through entity to take a deduction of up to 20% of the Qualified Business Income of the entity each year.

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Client Alert - Charitable Contributions Guidance Updated by IRS

May 16, 2018

The IRS has consolidated and clarified charitable contributions guidance with new a Revenue Procedure effective May 16, 2018.  This impacts both private foundations, as well as individual donors.

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Client Alert - Newman's Own Exception Makes It Easier For Private Foundations to Hold Business Interests

February 9, 2018

Section 4943(g) was added to the Internal Revenue Code on February 9, 2018.  Informally known as “Newman’s Own”, section 4943(g) provides an exception to the private foundation excess business holding rules that will allow certain private foundations to own 100% of a privately held company indefinitely, so long as certain requirements are met.

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Client Alert - The Tax Cuts and Jobs Act of 2017

December 2017/January 2018

As you are aware, on December 22, 2017, the Federal government enacted The Tax Cuts and Jobs Act of 2017 (the "2017 Tax Act") changing, among other things, the estate, gift and generation-skipping transfer ("GST") tax regime once again.

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Client Alert - Important New Changes to the Connecticut Estate and Gift Tax

November 2, 2017

On October 31, 2017, Governor Dannel P. Malloy signed the new Connecticut State Budget for the Biennium Ending June 30, 2019.  The new budget included a change to the Connecticut Estate and Gift Tax Regime. 

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Client Alert - IRS Proposes Dramatic Changes in Valuation Discounts For Family-Owned Businesses and Entities For Gift and Estate Purposes

September 1, 2016

On August 2, 2016, the IRS proposed major changes to the Regulations under Section 2704 of the Internal Revenue Code affecting how interests in family-held businesses are to be valued when transferred among family members.

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Client Alert - Tax-Free Direct Charitable/IRA Distributions

November 2015

Will Congress extend expired law retroactively for 2015? If so, when? What should donors do?

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Client Alert - New York Estate Tax Laws

February 2014

Recently Governor Cuomo submitted a budget bill which includes significant changes to the New York estate tax laws. 

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Client Alert - Estate, Gift and Generation-Skipping Transfer Tax

January 2013

On January 2, 2013, the Federal Government enacted the American Taxpayer Relief Act of 2012 (the “2012 Tax Act”) changing, among other things, the estate, gift and generation-skipping transfer (“GST”) tax regime once again.  

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