COVID-19 Client Resources and Updates

We want to share with you some important updates that have occurred since our last Client Alert on March 26, 2020.  The following additional guidance has been issued at both the state and federal levels:

1. Federal Gift Tax Return Due Date Relief. The Internal Revenue Service has expanded the federal tax return and payment relief to include gift and generation-skipping transfer tax.  The April 15 deadline for filing Form 709 (United States Gift and Generation-Skipping Transfer Tax Return), as well as any federal gift tax or generation-skipping transfer tax payment due, is postponed to July 15, 2020.  There is no need to file an extension request to qualify for the extension.
2. Connecticut Gift Tax Return Due Date Relief.  The Connecticut Department of Revenue Services has followed suit.  The filing and payment deadline for gift tax returns (Form CT-706/709), and any associated gift tax payments, is automatically extended from April 15, 2020, to July 15, 2020.
3. Connecticut Will Signings.  Finally, the Governor of Connecticut has issued an additional executive order allowing for remote witnessing of a Last Will and Testament in Connecticut, if done under the supervision of a Connecticut attorney.

We will continue to track any additional legislative measures related to estate planning. In the meantime, we are available and ready to assist you with your estate planning needs. If we can be of help to you in any way, please contact us.

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Visit Wiggin and Dana’s COVID-19 Resource Center here for additional publications and helpful links on multi-disciplinary topics that are relevant during the current COVID-19 global pandemic.