Ira J. Kaplan

Kleinberg Kaplan Recognized in Chambers High Net Worth 2024 July 18, 2024 FEATURED PUBLICATION, Firm News New York, July 18, 2024 - Premier boutique law firm Kleinberg Kaplan announced that it has been recognized by Chambers High Net Worth 2024 as a leading firm. The firm was included in the Private Wealth Law: Mid-Market - New York category. A source stated, The firm has displayed an outstanding level of expertise and... The Corporate Transparency Act Is Here June 12, 2024 Client Alerts The U. S. Corporate Transparency Act (CTA) requires certain privately owned entities to report information about the people who control them (their beneficial owners) to the Financial Crimes Enforcement Network of the U. S. Department of the Treasury (Fin CEN). The CTA rules generally apply to privately owned limited liability companies (LLCs), limited partnerships (LPs), corporations and other... Corporate Transparency Act Imposes Significant New Fin CEN Reporting and Disclosure Requirements December 5, 2023 Client Alerts On January 1, 2024, the Beneficial Ownership Information (BOI) reporting requirements under the federal Corporate Transparency Act (CTA) are scheduled to go into effect. The new rules represent a fundamental shift in the U. S. disclosure regime for privately held companies. The CTA A part of Congresss historic bipartisan National Defense Authorization Act of 2021, the... IRS Announces 2024 Inflation Adjustments to Estate, Gift and Generation-Skipping Tax Exemptions November 21, 2023 Client Alerts The IRS recently released Revenue Procedure 2023-34, which announced 2024 annual inflation adjustments for various tax provisions. Effective January 1, 2024, the estate and gift tax basic exclusion amount and the generation skipping transfer (GST) tax exemption are scheduled to increase from $12,920,000 to $13,610,000. This is an increase of $690,000 per person or $1,380,000 for... Best Lawyers Awards Kleinberg Kaplan Top Rankings in Best Law Firms 2024 Edition November 2, 2023 Firm News Premier boutique law firm Kleinberg Kaplan has been recognized in the 2024 edition of Best Law Firms for providing outstanding legal counsel in three practice areas: Trusts & Estates, Commercial Litigation, and Tax. Kleinberg Kaplan was named a Tier 1 law firm for Trusts & Estates at both the National and New York City Metropolitan... Kleinberg Kaplan Recognized in Chambers High Net Worth 2023 July 20, 2023 Firm News New York, July 20, 2023 - Premier boutique law firm Kleinberg Kaplan announced that it has been recognized by Chambers High Net Worth 2023 as a leading firm. The firm was included in the Private Wealth Law: Mid-Market - New York category. For decades, Kleinberg Kaplan has been guiding high net worth individuals-and their families and businesses-as they navigate the... IRS Announces 2023 Inflation Adjustments to Estate, Gift and Generation-Skipping Tax Exemptions October 20, 2022 Client Alerts On October 18, 2022, the IRS released Revenue Procedure 2022-38, which announced 2023 annual inflation adjustments for various tax provisions. Effective January 1, 2023, the estate and gift tax basic exclusion amount and the generation skipping transfer (GST) tax exemption are scheduled to increase from $12,060,000 to $12,920,000. This is an increase of $860,000 per person or... U. S. News - Best Lawyers Awards Kleinberg Kaplan Top Rankings in Best Law Firms 2022 Edition November 4, 2021 Firm News Premier boutique law firm Kleinberg Kaplan has been recognized in U. S. News & World Reports 2022 edition of Best Law Firms for providing outstanding legal counsel in three practice areas: Trusts & Estates, Commercial Litigation, and Tax. Kleinberg Kaplan was named a Tier 1 law firm for Trusts & Estates at both the National and... Update: Ways and Means Committee Proposes New Legislation October 6, 2021 Client Alerts Kleinberg Kaplan recently sent a Trusts & Estates Client Alert discussing potential changes to the tax law that were proposed by the House Ways and Means Committee (click here for the Client Alert). A recent report issued by the House Budget Committee regarding the proposals has important implications concerning the proposed provisions related to grantor... Ways and Means Committee Proposes New Legislation September 28, 2021 Client Alerts The House Ways and Means Committee recently released a draft of the tax portion of the proposed reconciliation bill. Some of the proposals affecting individual taxpayers, estates and trusts are described below. Termination of Temporary Increase in Gift and Estate Tax Exclusion Amount The gift and estate tax exclusion amount is presently $11.7 million (indexed... Post-Election Trusts & Estates Planning Considerations November 9, 2020 Client Alerts In the wake of the 2020 election, many expect that the Biden administration will seek to engage Congress to enact new tax legislation in order to raise revenue to pay the costs associated with the pandemic and other government programs. The administrations ability to set policy will be impacted by the final results of several... Kleinberg Kaplan Recognized by U. S. News - Best Lawyers in Best Law Firms 2021 Rankings November 5, 2020 Firm News Premier boutique law firm Kleinberg Kaplan has been recognized in U. S. News & World Reports 2021 edition of Best Law Firms for providing outstanding legal counsel in two practice areas: Trusts & Estates and Commercial Litigation. Kleinberg Kaplan was named both a National (Tier 2) and New York City Metropolitan (Tier 1) firm for Trusts... Kleinberg Kaplan Partners Joshua M. Kaplan and Jeffrey B. Kolodny Published in Bloomberg Tax October 5, 2020 Firm News Kleinberg Kaplan Partners Joshua M. Kaplan and Jeffrey B. Kolodny were recently published in Bloomberg Tax: Tax Management, Estates, Gifts and Trusts Journal. Their article, The Lows and Highs of Estate Planning in a Pandemic: Making the Most of Estate and Gift Tax Opportunities in the Covid-19 Economy, discusses the opportunities 2020 can provide for... Helping Clients Navigate COVID-19 (Updating) August 18, 2020 Client Alerts, FEATURED PUBLICATIONKleinberg Kaplan is working closely with our clients to provide counsel and guidance during these unprecedented times. A selection of our recent thought leadership pieces related to the implications of COVID-19 includes: Corporate Considerations The PPP Just Got Better (June 10, 2020): Chris Davis, Dov Kleiner, Uri Rosenwasser and Benjamin Goldman discuss the key highlights of the... Current Estate and Gift Tax Planning Opportunities July 8, 2020 Client Alerts As the global economy continues to feel the disruptive effects of the COVID-19 crisis, now may be an appropriate time to consider potential estate planning opportunities: Low Interest Rates: The IRS prescribes minimum interest rates that taxpayers must charge on most loans (including installment sales) to avoid gift tax consequences. These IRS rates are now... SECURE, CARES and Retirement Account Distributions in 2020 June 26, 2020 Client Alerts Both the SECURE Act enacted in December 2019 and the CARES Act enacted in March 2020 changed the rules governing distributions from retirement plans and IRAs. Under the SECURE Act, retirement plan participants and IRA owners no longer have to begin taking distributions until April 1 of the calendar year after they reach age 72... Tax-Exempt Organizations in the Age of COVID-19 April 29, 2020 Client Alerts The COVID-19 crisis presents unique challenges, as well as opportunities, for tax-exempt organizations. The Coronavirus Aid, Relief and Economic Security (CARES) Act provides some relief to tax-exempt organizations who may be experiencing difficulties funding their operations and charitable projects as a result of the current situation. In addition, the Internal Revenue Service has postponed tax... Estate Planning Considerations and COVID-19 March 25, 2020 Client Alerts As the novel coronavirus (COVID-19) continues to affect almost all areas of life, the Kleinberg Kaplan Trusts & Estates Practice Group is monitoring developments that may impact our clients estate planning. As always, the health, safety and wellbeing of our clients and their families are of paramount importance to us. In light of the current situation,... SECURE Act Changes Key Retirement Plan and IRA Rules Alerts December 30, 2019 Client Alerts Retirement benefits (such as pension, profit-sharing, 401(k) or IRA benefits) make up a substantial portion of many peoples assets. Congress recently passed, and the President signed on December 20, 2019, the Setting Every Community Up for Retirement Act (the SECURE Act) as part of the Further Consolidated Appropriations Act, 2020. The SECURE Act made various... Kleinberg Kaplan Adds Joshua Kaplan as Partner to Trusts and Estates Group December 9, 2019 Firm News Premier boutique law firm Kleinberg Kaplan has announced that Joshua M. Kaplan has joined the firm as a partner in its Estate Planning and Administration Practice. He arrives from Dechert. With more than a decade of experience in private wealth matters, Mr. Kaplan advises clients on a broad range of issues, including estate planning and administration; estate, gift and...