News & Analysis as of September 2, 2025

Individual Retirement Account (IRA)

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

House Passes Major Tax Cuts in Budget Bill

Cadwalader, Wickersham & Taft LLP on 5/28/2025

On May 22, 2025, the House passed its FY 2025 budget bill, which includes substantial tax cuts. Following extensive negotiations in the House, legislators included last-minute amendments to the budget bill, which, among other...more

2023 Estate Planning Update

Verrill on 1/25/2023

This alert from Verrill’s Private Clients & Fiduciary Services Group highlights the latest changes to the income tax and transfer tax landscape. The alert addresses the SECURE ACT 2.0, federal and state transfer tax updates...more

Massachusetts Taxpayers Find More Complexity in Differences Between Massachusetts and Federal Tax Law

Bowditch & Dewey on 11/9/2021

It seems every year there are changes to the Internal Revenue Code (IRC). It is a challenge, even for tax pros, to keep up with the ever-changing tax code. Massachusetts taxpayers also have an added challenge in keeping up...more

2018 Year-End Estate Planning Update

Verrill on 12/4/2018

Federal Transfer Taxes - The Internal Revenue Service has announced the annual inflation adjustments for the 2019 tax year... Federal unified gift and estate tax exclusion increasing to $11,400,000: As of January 1,...more

Personal Planning Strategies - December 2018

Proskauer Rose LLP on 11/29/2018

Estate, Gift and GST Tax Update - What This Means for Your Current Will, Revocable Trust and Estate Plan - The estate and gift tax regimes have been permanent and unified since the passage of The American Taxpayer...more

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