The Connecticut Department of Revenue Services (DRS) announced the launch of its Tax Amnesty Program. The program began November 1, 2021 and ends January 31, 2022. The program offers taxpayers who owe Connecticut taxes the opportunity to satisfy outstanding tax liabilities on a favorable basis. In particular, the program provides a 75% reduction in interest,
Lou Schatz to Present at the Connecticut Society of CPAs State Tax 360° Conference
Lou Schatz will present the session, “2021 Connecticut Legislative, Administrative and Judicial Tax Update” during the Connecticut Society of CPAs State Tax 360° Conference. This session will provide a detailed summary of the Connecticut tax law changes adopted by the 2021 legislative session. In addition, the session will review recent administrative guidance issued by the…
ARPA Extends Certain Paid Leave Tax Credits and FICA Tax Relief for Certain Governmental Employers, Including School Districts
The American Rescue Plan Act of 2021 (“ARPA”), which was signed into law last month by President Biden, brought about many changes as part of its $1.9 trillion legislation. One significant impact of the ARPA was the expansion of eligibility for tax credits to certain governmental employers that voluntarily provide qualifying paid sick and family…
Tax and Employee Benefits Provisions in the American Rescue Plan Act of 2021
On March 11, 2021, President Biden signed into law the American Rescue Plan of 2021 (“ARPA”). This Alert will summarize the significant tax and employee benefit provisions that are contained in ARPA.
Recovery Rebates to Individuals
ARPA enacted new Internal Revenue Code (the “Code”) Section 6428B, which provides individuals with a $1,400 recovery rebate credit…
COVID-19 Update for Trusts and Estates
Federal and state governments have taken a number of actions in recent weeks in response to COVID-19 pandemic. Although there is certain to be additional governmental action in the near future, we thought it would be helpful to summarize the key actions that relate to our trusts and estates clients.
Automatic Postponement of Certain Federal…
FFCRA Payroll Tax Credit for Employers
On March 18, 2020, President Trump signed into law H.R. 6201, the Families First Coronavirus Response Act (“FFCRA”). Among other things, the FFCRA requires employers with less than 500 employees to (i) provide up to 12 weeks of partially-paid leave to parent caregivers of minor children home as a result of COVID-19 related school…
Changing RMD Age to 72 Does Not End Federal and State Tax Benefits of Qualified Charitable Distributions
Now that the dust has begun to settle with respect to understanding the retirement plan and IRA changes in the federal law known as Setting Every Community Up for Retirement Enhancement Act of 2019 (the federal “SECURE Act”) that was signed into law in December of last year, tax planning is underway for the changes…
What Plan Sponsors and IRA Owners Need to Know About the SECURE Act
On December 20, 2019, President Trump signed into law H.R. 1865, the Further Consolidated Appropriations Act, 2020 (now Pub. L. 116-94) (the “Appropriations Act”), which, among other things, contains the Setting Every Community Up for Retirement Enhancement (SECURE) Act (the “Act”). The Act is a significant piece of retirement legislation which seeks to expand access…
2018 NYSSCPA Tax Conference
Shipman & Goodwin attorney Louis Schatz will present a Connecticut Tax Update at the Westchester/Rockland Chapter NYSSCPA Tax Conference.
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CTCPA State Tax 360° Conference
Shipman & Goodwin attorneys Alan Lieberman and Robert Day III will be speakers at CTCPA’s State Tax 360° Conference.
Alan and Stephen LaRosa of Alexion Pharmaceuticals will present the Legislative Update session. Robert will present the session State Tax Implications of the Federal Tax Reform also with Stephen LaRosa.
For more information or to register,