Photo of Louis B. Schatz

Louis Schatz is a partner in Shipman's Tax and Employee Benefits Practice Group, a group which he chaired for many years. From 2007 to 2017, Lou served on the firm’s seven-person Management Committee. He is the past Chair of the Tax Section of the Connecticut Bar Association.

Lou practices in the areas of federal and State of Connecticut tax with attention to the representation of closely held businesses organized as limited liability companies, partnerships and S corporations; real estate joint ventures; and the representation of taxpayers involved in federal and Connecticut tax controversies (at the audit, appellate and court levels). He is a frequent lecturer on federal and State of Connecticut tax, partnership and limited liability company issues.

On March 11, 2021, President Biden signed into law the American Rescue Plan of 2021 (“ARPA”).  This Alert will summarize the significant tax and employee benefit provisions that are contained in ARPA.

Recovery Rebates to Individuals

ARPA enacted new Internal Revenue Code (the “Code”) Section 6428B, which provides individuals with a $1,400 recovery rebate credit

On March 4, 2021, Governor Lamont signed H.B. 6516, An Act Mitigating Adverse Tax Consequences from Employees Working Remotely During COVID-19, and Concerning the Removal of Liens on the Property of Public Assistance Beneficiaries and a Three-Tired Grants in Lieu of Taxes Program.

This new law allows Connecticut residents to take credits for

Due to the COVID-19 pandemic, many Connecticut individual taxpayers who normally commute to work in New York or Massachusetts have been instructed to work remotely from their home. As a result, this has created substantial Connecticut income tax uncertainty for these individual taxpayers and their employers.

While income is generally subject to state income tax