News & Insights
Cummings & Lockwood’s 2025 Firmwide Annual Update
March 17, 2026We are pleased to share with you Cummings & Lockwood’s 2025 Firmwide Annual Update which highlights the work we have performed this past year for our clients, the support we have provided to non-profit organizations in our communities, and our core principles and values which serve as the foundation for our relationship with clients.
Fifth Circuit Rejects "Passive Investor" Test For Limited Partner Self-Employment Tax Exclusion
February 19, 2026As a rule, an individual partner’s distributive share of ordinary business income is included in net earnings from self-employment under Internal Revenue Code § 1402(a) and is subject to federal self-employment tax.
Cummings & Lockwood Attorneys Participate in Columbia Law School Panel on Careers in Private Wealth and Estate Planning
February 17, 2026Laura W. Beck and Wyatt R. Jansen of Cummings & Lockwood will be participating in a panel discussion entitled “Careers in Private Wealth and Estate Planning” hosted by Columbia Law School on February 18. 2025.
IRS Applies Economic Substance Doctrine to Disallow Charitable LLC Tax Benefits
February 11, 2026In the recently released Field Service Advice 20260401F, the Internal Revenue Service concluded that the transfer of a non-voting interest in an investment limited liability company to a tax-exempt public charity should be disregarded for federal income tax purposes because it lacked economic substance.
WealthManagement.com
US Postal Service Disrupts "Mailbox" Rule for Tax Filing and Payment Deadlines
January 6, 2026Under IRC § 7502, a tax return, refund claim or tax payment is deemed to be filed or paid on the date of the postmark stamped on the envelope in which it was mailed even if received by the IRS days or weeks later.
New York Tax Court Approves "Drop and Swap" Technique in Real Estate Like-Kind Exchange
December 16, 2025An IRC § 1031 like-kind exchange (“LKE”) is a tax-deferred transaction in which the taxpayer sells real estate held for productive use in a trade or business or for investment (“qualifying property”) and reinvests the sales proceeds in other qualifying property.
Connecticut Appellate Court Issues Guidance on Asset-Protection Trusts in Divorce
December 9, 2025A recent Connecticut Appellate Court case provides guidance on an important issue in many high-net-worth divorce cases: whether property in asset-protection trusts is “marital property” subject to equitable distribution.
New York Emphasizes "Substance over Form" In Determining Domicile For Income Tax Purposes
December 8, 2025The determination of domicile can be critical for state tax planning because states which have state level income and/or estate taxes generally impose those taxes on a person domiciled in the state more than on a non-resident.
How to Successfully Address Common Soft Issues in Estate Planning Conferences
December 3, 2025In this video, Daniel G. Johnson, a Principal in Cummings & Lockwood’s Private Clients Group and based in the firm’s Stamford, Connecticut office, covers the most appreciated advice during an estate planning conference which can frequently stem from a discussion about a soft issue that is unrelated to tax savings.
Grantor Retained Annuity Trusts
December 3, 2025In this video, Douglas H. Olin, a Principal in Cummings & Lockwood’s Private Clients Group and based in the firm’s Greenwich, Connecticut office, covers how to structure and administer a successful Grantor Retained Annuity Trust (“GRAT”) and strategies to set clients up for success.
2025-2026 Estate and Gift Tax Law Update
December 3, 2025In this video, Katherine C. Gent, a Principal in Cummings & Lockwood’s Private Clients Group and based in the firm’s Stamford, Connecticut office, reviews the current federal, Connecticut and New York estate, gift and generation-skipping transfer tax laws.
One Big Beautiful Bill Act: What You Need to Know for Estate, Gift and Income Tax Planning
December 3, 2025In this video, Eva V. Kliegman, a Principal in Cummings & Lockwood’s Private Clients Group and based in the firm’s Greenwich, Connecticut office, covers the aspects of the new tax legislation that affect estate, gift and income tax planning.