News & Articles

On March 2, The U.S. Treasury Department has announced a significant shift in the enforcement of the Corporate Transparency Act (CTA). Under the new policy, The U.S. Treasury Department will no longer enforce penalties or fines related to the beneficial ownership information (BOI) reporting rule under the existing regulatory deadlines. Furthermore, even after forthcoming rule changes take

Banking and credit trade groups asked a Chicago federal judge late Monday to permanently overturn a law which would prohibit banks from collecting “swipe fees” on tax and tip portions of credit and debit card payment transactions. The Interchange Fee Prohibition Act, which was approved as part of Governor J.B. Pritzker’s 2024 budget legislation, stemmed from heavy

While the federal minimum wage has consistently stayed at $7.25 per hour since 2009, many states have decided to increase their minimum wage at the commencement of the new year. In 2025, the highest minimum wage is set to be $17.50 in the District of Columbia, with Washington state and California following closely at $16

The Illinois Trade Secrets Act (“ITSA”) serves as a crucial legal framework for protecting businesses from the unauthorized use or disclosure of confidential information. Enacted under 765 ILCS 1065/1 et seq., the ITSA establishes a cause of action for individuals harmed by the improper access of trade secrets. This article provides a comprehensive overview of

Under the Energy Policy Act of 2005, you may qualify for the Internal Revenue Code §179D energy efficient tax deduction on construction or capital improvement costs designed to increase a building’s energy efficiency. This deduction is available for private or commercial buildings, as well as public schools, federal, state, local government, municipality, and military buildings.

Illinois’ Genetic Information Privacy Act (GIPA) has gained notable attention alongside the Illinois Biometric Information Privacy Act (BIPA), particularly due to an increase in class action lawsuits, reaching 30 cases in 2023. This surge is attributed to several factors, including parallels in the right of action and remedy provisions shared between GIPA and BIPA. GIPA,

Recently, staffing agencies subject to the regulations of the 2006 Illinois Day and Temporary Labor Service Act are challenging amendments to the Act. They, along with their trade associations, are urging a federal court to prevent the enforcement of these changes, which primarily dictate the management and payment of day laborers and temporary workers. The

The National Association of Realtors (NAR) and other franchisors are navigating the fallout of a multibillion-dollar verdict handed down recently over agent commissions in Missouri. The case hinged on the commissions, usually of 6%, that sellers pay their agents, who then split them with the buyers’ agents. A jury concluded that the traditional practice where

The Internal Revenue Service recently released updated income tax brackets, standard deductions, and retirement contribution limits for the 2024 tax year. Tax Bracket Inflation Adjustment Tax brackets have been adjusted upwards by 5.4% for 2024. The primary purposes of this adjustment is to account for inflation because the government’s goal is to keep income taxes