In a major legal development, on December 3, 2024, Judge Amos L. Mazzant III of the United States District Court for the Eastern District of Texas issued a nationwide preliminary injunction blocking the enforcement of the Corporate Transparency Act (the “CTA”). This ruling halts the federal requirement that millions of U.S. businesses disclose their beneficial […]

Summary: The IRS has announced that in 2025, the Lifetime Estate and Gift Tax Exemption (the “Lifetime Exemption”) will rise to $13,990,000 (from $13,610,000); the Annual Gift Exclusion will rise to $19,000 (from $18,000) and the Annual Gift Exemption for gifts to non-U.S. citizen spouses will rise to $190,000 (from $185,000). Impact: These increases will […]

The law firm of Twomey, Latham, Shea, Kelley, Dubin & Quartararo, LLP (the “Firm”) has announced that Christina Russo has joined the Firm as Associate Attorney. Ms. Russo concentrates her practice in Elder Law, Estate Planning, Trust and Estate Administration. Prior to joining the Firm, Ms. Russo practiced in Suffolk County exclusively in the areas […]

The law firm of Twomey, Latham, Shea, Kelley, Dubin & Quartararo, LLP (the “Firm”) announced that Zachary Mike joined the Firm as Associate Attorney. He concentrates his practice in Business and Corporate Law. “I am very excited to join this prestigious Firm and its growing Corporate Group,” Mr. Mike said. “I’m looking forward to working […]

LIVE YOUR COR FOUNDATION and DANA BARRETT STRONG partnered to organize an annual beach cleanup honoring Cory Hubbard and Dana Barrett, promoting environmental preservation, community involvement, and charitable support. The event encourages teamwork and positive action. Westhampton’s Inlet2Inlet Beach Clean-up proved to be a huge success as Jacqueline Hubbard and the firm team cleaned up […]

Associate Attorney MaryKate Brigham led the TLSKDQ Team in the annual Alzheimer’s Association’s #Walk2EndAlz on the North Fork on September 28 and the Suffolk County Farm in Yaphank on October 19. Walk to End Alzheimer’s is the world’s largest event to raise awareness and funds for Alzheimer’s care, support, and research. MaryKate reported that TLSKDQ […]

Bernadette E. Tuthill, Partner, is the VP of the North Fork Breast Health Coalition and Co-Chair of the annual 5K Walk for Breast Cancer Awareness to raise funds for the Coalition’s programs. This includes grants, free services and products for breast cancer survivors and thrivers on the North Fork. Twomey, Latham, Shea, Kelley, Dubin & […]

The Corporate Transparency Act (the “Act”) requires companies to complete a new form (“BOI Report”) with the Treasury Department’s Finance Crimes Enforcement Network (“FinCEN”), unless certain exemptions apply. Companies that must complete the BOI Report typically include all non-public US companies that have filed with a secretary of state and/or tribal level office to create […]

At a Glance: On July 18, 2024, the IRS issued final regulations regarding required minimum distributions (RMDs) from retirement accounts and proposed regulations that provide additional guidance under the SECURE 2.0 Act. Final Regulations: Beneficiaries generally must continue to take annual distributions if the plan participant died on or after the required beginning date. A […]

The law firm of Twomey, Latham, Shea, Kelley, Dubin & Quartararo, LLP has announced that Jesse Frost has joined the Firm as Associate Attorney. He concentrates his practice in trusts and estates, counseling individuals and their families throughout the process of estate planning and estate administration. Prior to joining the Firm, Mr. Frost was an […]