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Corporate Transparency Act – No Penalties or Fines to be Issued by FinCEN or Treasury Department for Failure to File by March 21, 2025

On March 2, 2025, the U.S. Department of the Treasury (“Treasury Department”) announced “with respect to the Corporate Transparency Act, not only will it not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the...

Federal Estate and Gift Tax Exemption Set to Decrease in 2025: Important Planning Considerations for 2025

The federal estate and gift tax exemption has increased to $13,990,000 for 2024, offering significant planning opportunities for individuals seeking to reduce their estate tax liability. However, this exemption is scheduled to “sunset” on December 31,...