News & Insights
42 Cummings & Lockwood Attorneys Have Been Recognized by Best Lawyers® in America in Its 2024 Edition
November 2, 2023Cummings & Lockwood LLC is pleased to announce that 31 of the firm’s attorneys have been recognized by Best Lawyers® in The Best Lawyers in America®, 10 Ones to Watch® in America and 1 Lawyer of the Year in the 2024 edition for a total of 42 attorneys.
Cummings & Lockwood Wins Significant Trust and Estate Litigation Case
October 16, 2023Cummings & Lockwood recently obtained a significant victory before the Connecticut Supreme Court in a case that will have long-lasting implications for trust and estate planning and litigation in Connecticut. On September 26, 2023, the Supreme Court officially released its decision in Salce v. Cardello.
Cummings & Lockwood Analyzes Massachusetts’ Recent $1 Billion Tax Relief Package
October 11, 2023On October 4, 2023, the Governor of Massachusetts signed into law the first tax cuts in Massachusetts in more than 20 years. The tax relief package is designed to deliver more than $561 million in tax relief to individuals and companies during the 2023-2024 fiscal year and top $1 billion in tax relief by the 2027 fiscal year when the package is fully phased in.
13 Cummings & Lockwood Attorneys Have Been Recognized as Connecticut Super Lawyers and Rising Stars in 2023
October 9, 2023Cummings & Lockwood is pleased to announce that 13 Cummings & Lockwood attorneys have been selected Connecticut Super Lawyers in 2023. Each year, no more than five percent of the lawyers in the state are selected by the research team at Super Lawyers to receive this honor.
IRS and U.S. Treasury Release Guidance on Cryptocurrency Reporting
September 7, 2023Crypto staking rewards are a kind of digital “dividend” or “interest” paid to cryptocurrency owners who help regulate and validate cryptocurrency transactions in the underlying blockchain network.
42 Cummings & Lockwood attorneys have been recognized by Best Lawyers® as “The Best Lawyers in America.”
August 22, 2023Cummings & Lockwood LLC is pleased to announce that 31 of the firm’s attorneys have been recognized by Best Lawyers® as The Best Lawyers in America®, 10 Ones to Watch® in America and 1 Lawyer of the Year in the 2024 edition for a total of 42 attorneys.
Cumming’s & Lockwood Private Clients Practice Garners Top Spot in the 2023 Issue of Chambers High Net Worth Guide for the 8th Consecutive Year
July 25, 2023Cummings & Lockwood is pleased to announce that for the 8th consecutive year, the firm’s trusts and estates practice in Connecticut was ranked in Band 1 in Private Wealth Law by Chambers in their 2023 Chambers High Net Worth Guide, which offers market-leading rankings, reviews and insights to the world's leading professional advisers.
Client Alert - The New 529-to-Roth IRA Conversion Rule
July 10, 2023Beginning in 2024, the federal legislation known as the SECURE Act 2.0 will allow beneficiaries of 529 plans to transfer up to $35,000 of 529 plan funds over the course of their lifetime to their own Roth IRA without paying taxes or penalties.
Seven Cummings & Lockwood Attorneys Have Been Recognized as Florida Super Lawyers and Rising Stars in 2023
June 26, 2023Cummings & Lockwood is pleased to announce that seven Cummings & Lockwood trusts and estates attorneys have been selected Florida Super Lawyers in 2023. Each year, no more than five percent of the lawyers in the state are selected by the research team at Super Lawyers to receive this honor.
Client Alert - A Summary of the Tax Law Provisions of the 2024-2025 Connecticut Biannual Budget
June 20, 2023On June 12, 2023, Governor Ned Lamont signed Connecticut’s two-year, $51 billion budget into law. The budget is said to include the largest income tax cut in Connecticut history and includes approximately $500 million in tax relief to Connecticut taxpayers, primarily by lowering certain income tax rates, modifying the pass-through entity tax, and expanding or increasing certain tax credits.
IRS Reveals 10-Year Spending Plan for $80 Billion Funding
April 24, 2023The Inflation Reduction Act enacted in August 2022 included $80 billion in funding for the IRS over the next decade. On April 6, 2023, the IRS released its Strategic Operating Plan (the “SOP”) which outlines the IRS’s plan for using these funds.
Supreme Court Rules that Non-Willful Foreign Bank Account Reporting Penalty Applies on a Per Report Basis
April 17, 2023The Bank Secrecy Act requires every U.S. person with a financial interest in, or signature or other authority over, a financial account located outside the U.S. to report the account to the U.S. Treasury Department annually, if the total value of the foreign financial accounts exceeds $10,000 at any time during the year.