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CLIENT ALERT: IRS to Accept Digital Signatures and Email

March 31, 2020

In response to the COVID-19 pandemic, effective immediately, the IRS will accept scanned, photographed, and digital signatures on certain documents relating to the determination or collection of tax liabilities. This temporary measure is to assist taxpayers and tax professionals in completing tasks remotely.

CLIENT ALERT: IRS Postpones Due Date for Filing Gift and Generation-Skipping Transfer Tax Returns

March 26, 2020

On March 27th, the Internal Revenue Service (IRS) postponed the due date for filing federal gift (and generation skipping transfer) tax returns (Forms 709) and any gift tax payments from April 15th to July 15th in response to the outbreak of Covid-19.

CLIENT ALERT: Litigation Will Follow This Crisis

March 23, 2020

While the current health crisis is unprecedented, the financial crisis and legal claims and disputes that will follow from it are not. Our litigation attorneys have prosecuted, defended and resolved claims for our clients resulting from past financial crises.

CLIENT ALERT: Treasury Delays April 15th Tax Payment and Filing Deadline by 90 Days in Response to the Outbreak of Covid-19

March 19, 2020

On March 20, 2020, Treasury Secretary, Steven Mnuchin, announced via Twitter the following:

At [President Trump’s] direction, we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.

CLIENT ALERT: Treasury Delays April 15th Tax Payment Deadline by 90 Days in Response to the Outbreak of Covid-19

March 16, 2020

On March 17, 2020, Treasury Secretary, Steven Mnuchin announced that the Treasury Department would push back the due date for tax payments due April 15 for individuals and businesses for 90 days.

CLIENT ALERT: Effective Immediately DRS Extends Filing Deadline for Certain Annual State Business Tax Returns

March 15, 2020

The Connecticut Department of Revenue Services (DRS) is using their statutory authority to grant an automatic extension of Connecticut filing deadlines for certain annual tax returns in order to support businesses during the COVID-19 outbreak effectively immediately.

CLIENT ALERT - Coronavirus Update

March 15, 2020

We are continuing to monitor ongoing Coronavirus developments.  Our highest priority is the health and safety of our employees, clients and the communities in which we live and work.

CLIENT ALERT - Coronavirus (COVID-19)

March 11, 2020

The spread of the coronavirus (COVID-19) is impacting an increasing number of individuals, families, businesses and financial markets, as well as our professional and personal lives.

We know that many of you, directly or indirectly, may be affected, and we share your concerns about public health and safety, business continuity, and market turbulence.

Domicile Planning and Moving to Florida

February 24, 2020

In this video, Robert L. Lancaster, a Principal in Cummings & Lockwood’s Private Clients Group, discusses the importance of domicile, the difference between domicile and residence, the tax and non-tax consequences of a change of domicile, and the various ways in which one can establish a new domicile. (2:39)

Charitable Planning

February 20, 2020

In this video, Heather J. Rhoades, a Principal in Cummings & Lockwood’s Private Clients Group, discusses how charitable giving can be incorporated into an estate plan, as well as describes the more common charitable structures or techniques, such as Charitable Lead Trusts, Charitable Remainder Unitrusts and Private Foundations.  (2:01)

Probate & Estate Administration

February 17, 2020

In this video, Mary Beth Crawford, a Principal in Cummings & Lockwood’s Private Clients Group, discusses who is responsible for settling an estate, what happens if there is no Will and how long it typically takes to settle an estate, as well as outlines the seven principal duties of an Executor.  (2:40)

Choice of Fiduciaries

February 13, 2020

In this video, Daniel G. Johnson, a Principal in Cummings & Lockwood’s Private Clients Group, discusses what a fiduciary is, the roles and responsibilities of a fiduciary, and the selection of fiduciaries, which might include a family member, non-family member, a trust company or bank with a trust department, or a trusts and estates attorney or accountant who regularly serves as Executor or Trustee.  (2:23)