Late on Friday, the IRS formalized U.S. Treasury Secretary Steven Mnuchin’s announcement earlier in the day regarding the extension of the tax filing deadline to July 15 by issuing Notice 2020-18, which contains several important clarifications.
The Internal Revenue Service (IRS) just released one of the all-time low interest rates applicable to certain wealth transfer techniques, including grantor retained annuity trusts (GRATs).
The IRS released Notice 2020-17 on March 18, 2020, formalizing the relief announced the previous day by U.S. Treasury Secretary Steven Mnuchin, which extended the time to pay certain taxes by 90 days.
Schiff Hardin LLP today announced that Christopher Roman has joined the firm’s Private Clients, Trusts and Estates practice group as counsel in the Chicago office.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act, which was signed into law in December 2019, introduces a number of new rules and provisions that impact retirement savings in both employer-sponsored and individual retirement plans.
Trusts have become much more complicated over the centuries. They may own a wide variety of assets, including residences, real estate, interests in family business, and interests in increasing complex financial instruments.
Trusts are more complicated today with multiple people sharing fiduciary responsibilities and varying state rules for how long a trust can last. We have created the following resources to help you understand the options of modifying irrevocable trusts.
On December 19, 2019, the U.S. Treasury Department (Treasury) and the Internal Revenue Service (IRS) released the final regulations relating to investment in Qualified Opportunity Zones (QOZ).
Schiff Hardin LLP is pleased to announce that Private Clients, Trusts and Estates Practice Group Leader Thomas Abendroth has been named chair of the Board of Trustees at his alma mater, Ripon College.
As the holidays approach and gatherings are planned, you may be considering how and when to carve out time to discuss elements of your family finances while your loved ones are together for a visit.
The U.S. Supreme Court recently decided a case that addresses how a state may tax a particular trust. State courts have been addressing similar questions with increasing frequency.
Twenty-five Arent Fox LLP practices have been recognized in the 2020 “Best Law Firms” rankings that are published annually by US News & World Report and Best Lawyers.
Schiff Hardin LLP announced today that the firm has received 45 top-tier rankings and national recognition for its premier practices in the 2020 edition of U.S. News – Best Lawyers® “Best Law Firms.”