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Updated: Federal Beneficial Ownership Reporting Requirement for Businesses (“BOI”) as of January 1, 2024 under the Corporate Transparency Act (“CTA”) Plus the Constitutional Court Challenges to Date.

Generally In 2021, Congress passed the Corporate Transparency Act (CTA) on a bipartisan basis. This law created a new Beneficial Ownership Information (BOI) reporting requirement as part of the U.S. government’s efforts to make it harder for bad actors to

January 8, 2025 No Comments

NYS Governor Appoints David R. Okrent, CPA, Esq. to the NYS Coordinating Council for Services Related to Alzheimer’s Disease and Other Dementias

We are happy to announce that the Firm’s Managing Attorney, David R. Okrent, Esq., CPA, has been appointed to the New York State Coordinating Council for Services Related to Alzheimer’s Disease and Other Dementias by New York State Governor Kathy

July 9, 2024 No Comments

Tax Reform

IRS Provides Tax Inflation Adjustments For Tax Year 2024

The Internal Revenue Service announced the annual inflation adjustments for more than 60 tax provisions for tax year 2024, including the tax rate schedules and other tax changes. Revenue Procedure 2023-34 [click for actual ruling] provides detailed information about these

November 13, 2023 No Comments

Uncategorized

IRS Rev. Rul. 2023-2 Determines Grantor Trust May Not Get Step Up On Death of Grantor!

Do assets received by a beneficiary of a “Grantor trust” on the death of the Grantor receive a “step up in basis”? On January 9, 2023 IRS issued Revenue Ruling 2023-2; 2023-16 IRB 1, determining that there is no basis

April 4, 2023 No Comments

Elder Law + Veterans

FDIC Updates Rules for Trusts Effective April 1, 2024

FROM THE FDIC WEBSITE: Revocable and Irrevocable Trust Rule Change Effective April 1, 2024 Mortgage Servicing Accounts Rule Change Effective April 1, 2024 All the rules discussed in this section are current through March 31, 2024. The FDIC approved changes, on

October 30, 2022 No Comments

Powers of Attorney

NY Governor’s Executive Order 202.105 Extending Remote Notarization & Witnessing until May 27, 2021

No. 202.105 E X E C U T I V E O R D E R Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency WHEREAS, on March 7, 2020, I issued Executive Order Number 202, declaring a State disaster emergency for the entire State of New York; and WHEREAS,

May 2, 2021 No Comments

Revocable Trusts

Can An Irrevocable Trust Be Revoked in NY State?

Can An Irrevocable Trust Be Revoked in New York State? By David R. Okrent, Esq., CPA A very popular tool in estate planning is the use of an Irrevocable Trust, however, I am asked, “David, is the Irrevocable Trust we

October 20, 2017 No Comments

Latest Posts

Okrent’s Recorded Presentation for Stony Brook University Foundation 2025 Webinar on “Elder Law and Estate Planning.”.

April 25, 2025

April 10, 2025 Federal Court Modifies Transitioning to One Fiscal Intermediary under NY Medicaid CDPAP Home Care Program

April 11, 2025

Updated: Federal Beneficial Ownership Reporting Requirement for Businesses (“BOI”) as of January 1, 2024 under the Corporate Transparency Act (“CTA”) Plus the Constitutional Court Challenges to Date.

January 8, 2025

Revocable Trusts

Categories

Updated: Federal Beneficial Ownership Reporting Requirement for Businesses (“BOI”) as of January 1, 2024 under the Corporate Transparency Act (“CTA”) Plus the Constitutional Court Challenges to Date.

NYS Governor Appoints David R. Okrent, CPA, Esq. to the NYS Coordinating Council for Services Related to Alzheimer’s Disease and Other Dementias

IRS Provides Tax Inflation Adjustments For Tax Year 2024

IRS Rev. Rul. 2023-2 Determines Grantor Trust May Not Get Step Up On Death of Grantor!

FDIC Updates Rules for Trusts Effective April 1, 2024

NY Governor’s Executive Order 202.105 Extending Remote Notarization & Witnessing until May 27, 2021

Can An Irrevocable Trust Be Revoked in NY State?

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Updated: Federal Beneficial Ownership Reporting Requirement for Businesses (“BOI”) as of January 1, 2024 under the Corporate Transparency Act (“CTA”) Plus the Constitutional Court Challenges to Date.

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