Alerts & Updates
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.
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.
Although we cannot be certain what the new Trump Administration will seek to change in the federal tax laws, we do know that during the campaign season President-Elect Trump expressed these intentions with regard to federal estate, gift and income taxes.
Client Alert - IRS Proposes Dramatic Changes in Valuation Discounts For Family-Owned Businesses and Entities For Gift and Estate PurposesAugust 31, 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.
Will Congress extend expired law retroactively for 2015? If so, when? What should donors do?
Recently Governor Cuomo submitted a budget bill which includes significant changes to the New York estate tax laws.
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.