News & Insights
Corporate Transparency Act (CTA)
March 11, 2025In this video, Brendan P. Snowden, a Principal in Cummings & Lockwood’s Corporate & Finance Group and based in the firm’s Stamford, Connecticut office, discusses recent regulations implementing the Corporate Transparency Act, which became law on January 1, 2021 as a part of the Anti-Money Laundering Act of 2020.
FinCEN and U.S. Treasury Department State Intention to Suspend Corporate Transparency Act Enforcement Efforts
March 5, 2025On February 18, 2025, a Texas District Court stayed its order enjoining FinCEN from enforcing the Beneficial Ownership Information (BOI) reporting requirements of the Corporate Transparency Act (CTA). FinCEN subsequently issued new guidance extending the BOI reporting deadline for most reporting companies to file an initial, updated and/or corrected BOI report with FinCEN to March 21, 2025.
Utilizing Charitable Entities in the Current Interest Rate Environment
March 4, 2025In this video, Brianna L. Marquis, a Principal in Cummings & Lockwood’s Private Clients Group and based in the firm’s West Hartford, Connecticut office, covers the best charitable techniques for the current interest rate environment after years of low interest rates.
Potential Implications of the 2024 U.S. Presidential Election on Taxes
February 25, 2025In this video, Elizabeth A. Falkoff, a Principal in Cummings & Lockwood’s Private Clients Group and based in the firm’s Stamford, Connecticut office, covers the potential implications of the 2024 U.S. presidential election on the estate, gift and generation-skipping transfer tax system.
Corporate Transparency Act Reporting Deadline Now March 21, 2025
February 24, 2025On February 18, 2025, a Texas District Court stayed its order enjoining FinCEN from enforcing the Beneficial Ownership Information (BOI) reporting requirements of the Corporate Transparency Act (CTA). On January 23, 2025, the Supreme Court granted the government’s motion to stay a nationwide injunction issued by a separate federal judge in Texas. These two court orders clear all outstanding injunctions with regards to enforcement of the BOI reporting requirements of the CTA.
2024 Current Estate and Gift Tax Environment
February 20, 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.
Cummings & Lockwood’s 2024 Firmwide Annual Update
We are pleased to bring you Cummings & Lockwood’s 2024 Firmwide Annual Update. It contains a letter from our Chairman and Managing Director, a summary of the work we performed last year for clients by practice area, an outline of the diverse legal services we offer, the professional recognitions and achievements we received, and our public service activities.
Social Security Fairness Act Provides Millions with Higher Social Security Benefits
January 13, 2025On January 5, President Biden signed the Social Security Fairness Act which repealed the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). The repeal will ensure that approximately 2.8 million current and retired public employees who receive government pensions for their service as police officers, firefighters, teachers and in other public service jobs receive the full benefits they have earned through their contributions to the Social Security System.
Connecticut Emphasizes "Time Spent" In Determining Domicile For Estate Tax Purposes
January 9, 2025Under Connecticut law, a decedent’s estate is subject to Connecticut estate tax if the decedent was domiciled in Connecticut at the time of his or her death. “Domicile” is often defined as (i) actual residence within a particular state, combined with (ii) the intention of making that state one’s permanent home.
Cummings & Lockwood Promotes Five Attorneys to Principal
January 6, 2025Cummings & Lockwood is pleased to announce that the following five attorneys have been elected to Principal effective January 1, 2025: Brianna L. Marquis (Private Clients Group, West Hartford Office), Bonie S. Montalvo (Private Clients Group, Bonita Springs Office), Joseph A. Stusek (Private Clients Group, Naples Office), Matthew N. Turko (Private Clients Group, Palm Beach Gardens Office) and Scott T. Witthuhn (Commercial Group, Stamford Office).
Enforcement of Corporate Transparency Act Suspended Again
December 30, 2024On December 26, a panel of the Fifth Circuit Court of Appeals considering the merits of the challenge to the Corporate Transparency Act (CTA) by Texas Top Cop Shop, Inc. vacated the stay of the injunction against enforcement of the CTA reporting deadlines entered by a motions panel of that Court on December 23.
Corporate Transparency Act Injunction Lifted
December 24, 2024On December 23, 2024, the Fifth Circuit Court of Appeals entered an order staying a District Court injunction that had barred the Financial Crimes Enforcement Network (FinCEN) from enforcing the reporting deadlines under the Corporate Transparency Act (CTA). Reporting entities must again comply with the reporting obligations of the CTA. Please see our prior client alerts on the CTA reporting obligations.