Farrell Fritz, P.C.

Great teams are built on hard work, camaraderie and respect. Last week, a group of our associate attorneys took a well-deserved break at the Vintage Green by our midtown New York City office and enjoyed a great evening together. Happy lawyers and happy hour = a great mix!

Farrell Fritz was proud sponsor at the Westchester County Bar Association Annual Meeting and Past Presidents’ Reception, celebrating the leadership of past presidents, including outgoing president James K. Landau of Lachtman Cohen & Belowich LLP. We would also like to congratulate Matthew Donovan on his election to the 2025 Slate of Officers and Directors! It was a wonderful evening recognizing the contributions of those who have supported the legal community. Congratulations to all the honorees!

Despite all the noise surrounding the extension of the Nassau County property tax grievance filing deadline from March 1st to April 1st this year (https://lnkd.in/dUJq4M3y), commercial property owners in Nassau County should be sure to remember that April 1,, 2025 is also the final day to submit a 2024 Annual Statement of Income & Expense (“ASIE”) form on the Nassau County Assessment website?- https://lnkd.in/dsjdAh8C These ASIE filings are an annual requirement for every income-producing property except houses, apartment buildings, co-ops and class 2 condominiums to report financial data.?100% owner-occupied properties also get a pass, but must claim the exemption by filling out the form online and checking the owner-occupied box.?The current ASIE law provides fairly stiff penalties for failure to file.?While ongoing litigation over this law has prevented Nassau County from imposing or collecting these penalties, commercial property owners would be wise to file and maintain proof of compliance in the interim.? More information about the ASIE filing can also be found at:?https://lnkd.in/dbaqUZEr Thank you Willets Meyer for this week's Tax Tracker! #taxtracker

Bret Cahn will be presenting with Regina Kiperman of RK Law at the Brooklyn Bar Association’s CLE “How to Handle Estate or Trust Mismanagement” with Regina Kiperman of RK Law PC. This program will cover the remedies available to the beneficiary/distributee of an estate or trust who suspects wrongdoing, including obtaining information, commencing a reverse turnover, suspending and/or removing the fiduciary, and compelling an accounting. For more information and to register, please visit the Brooklyn Bar Association's website here: https://lnkd.in/ekF7JaSD #estatelitigation #trustsandestates

Italy consistently ranks among the top destinations for U.S. retirees, thanks to its rich culture, world-class cuisine, and relaxed lifestyle. But for those with trusts in their estate plan, there are important legal and tax considerations to keep in mind. David Goldstein shared his insights with Kiplinger on the precautions U.S. citizens should take. Read the article here: https://lnkd.in/e-wXtYrP #trustsandestates #estateplanning

Brian Corrigan will be presenting at the The American College of Trust and Estate Counsel (ACTEC) 2025 Annual Meeting on the panel “Hot Topics.” The panelists will review and discuss the most recent developments, cases, and rulings in the estate planning area. For more information and to register, please visit the ACTEC website here: https://lnkd.in/eH7h53KT #estatelitigation #trustsandestates

Winter isn’t over yet! In this week's New York Business Divorce blog, Becky Baek shares this year’s annual Winter Case Notes, offering a snapshot of some intriguing recent cases from the world of New York business divorce. Read the blog here: https://lnkd.in/ePy4veqk #businessdivorce

Last week, the Internal Revenue Service (“IRS”) announced that more than 1.1 million individual taxpayers have unclaimed refunds related to the 2021 tax year. By the IRS’s estimates, these unclaimed refunds may equate to more than $1 billion. The estimated median refund amount is $781. However, many people could be owed more as this estimate does not include the Recovery Rebate Credit or any other applicable credits that may apply. A state-by-state estimate of potential refunds can be found here:?https://lnkd.in/e84i3rYK Generally, the latest date that you can claim a refund for a specific tax year is the later of the following: 1. 3 years from the date you filed your federal income tax return, or 2. 2 years from the date you paid the tax. If a taxpayer files a return before its due date, the IRS considers it filed on the due date. If tax is withheld or estimated taxes are paid, the IRS considers those payments to have been made on the return due date. For taxpayers with unclaimed refunds for the 2021 or 2022 tax years, depending on whether and when payments were made and returns were filed, there is only one month remaining, until April 15, 2025, on those statutes of limitations. ? As an additional reminder, the IRS may hold a taxpayer’s refund if they have not filed tax returns for subsequent years. Further, any refund amount may be applied to amounts owed to the IRS for other tax years or may be paid to a state tax agency, be used to offset unpaid child support, or applied to other past due federal debts such as student loans. Thank you Colleen E. Spain for this week's Tax Tracker! #taxtracker

Farrell Fritz was a proud sponsor at the 2025 ABA-IPT Advanced Property Tax Seminar. Members of the Farrell Fritz Real Property Tax Certiorari & Condemnation team, Willets Meyer, Michael P. Guerriero, and Ryan C. Hild, attended the conference this week in New Orleans, LA. ABA Tax Section Institute for Professionals in Taxation

March 18, 2025, Azi Baer will be leading a discussion on estate and legacy planning with Merritt Point Wealth Advisors. See below for registration information. #estateplanning #trustsandestates