Potential Real Estate Tax Relief to Illinois Businesses and Homeowners
It is undeniable that the repercussions of the COVID-19 pandemic have left many families and businesses in a state of financial uncertainty. As a result, many governmental agencies have taken steps to lessen the financial burden. Last Friday, Cook County Assessor Fritz Kaegi announced that all homes, businesses and other real estate parcels could see
Employer Considerations When Forced to Reduce Employees’ Hours Due to COVID-19
With the COVID-19 pandemic imposing significant financial burdens on Illinois businesses, many employers must make difficult decisions to reduce costs in order to remain in business. Although many employers are doing everything in their power to keep their employees employed, with the closure or partial closure of businesses, and a general reduction in work, many
URGENT: EMERGENCY SMALL BUSINESS GRANTS AND LOAN ASSISTANCE
In an effort to reduce the financial impacts of COVID-19 on small businesses in Illinois, the State and the City of Chicago have enacted small business relief programs to provide companies with loans and grants to be used for working capital and to prevent employee layoffs. However, time is of the essence, as some programs
BEWARE: Avoiding Scams in the Wake of COVID-19
BEWARE: Avoiding Scams in the Wake of COVID-19 The COVID-19 pandemic has led to what the World Health Organization has deemed an “Infodemic” considering people are given a wealth of medical, economic, and other information to sift through about the disease. While news outlets, government agencies, and health care providers work to provide accurate and
COVID-19 Economic Stimulus Bill
COVID-19 Economic Stimulus Bill On March 25, 2020 the Senate unanimously passed a $2 trillion COVID-19 response bill, known as the Coronavirus Aid, Relief, and Economic Security Act (“Act”). Today the House of Representatives approved the bill without changes and presented the same to President Trump for his signature. The Act is intended to provide
UPDATE: Employee Benefits – Families First Coronavirus Response Act
UPDATE: Employee Benefits – Families First Coronavirus Response Act The March 20, 2020 edition of the Legal Notebook contained an article advising our clients of the Families First Coronavirus Response Act and the Medical Leave Expansion Act. Thereafter, the Department of Labor released FAQs in order to clarify common uncertainties. For justification, please see updates
Business Interruption and Civil Authority Insurance
Client Alert: Business Interruption and Civil Authority Insurance Provisions in the Wake of COVID-19 Following the restrictions imposed limiting crowd sizes and shuttering companies’ operations across seemingly every industry, business owners are turning to their insurance coverage policies for guidance in navigating these difficult and uncertain times. One possible aid to business owners facing new
Federal Tax Guidelines – Filing Date Pushed Back
Federal Tax Guidelines – Filing Date Pushed Back As a result of the COVID-19 pandemic, the Internal Revenue Service (“IRS”) has postponed the April 15, 2020 federal income tax filing deadline. July 15, 2020 is the new deadline for both income tax filings and income tax payments to the IRS. What does this mean for
Illinois’ “Stay at Home” Order & Construction Work
Illinois’ “Stay at Home” Order & Construction Work On March 20, 2020, Gov. J.B. Pritzker issued an executive “Stay at Home” Order, requiring Illinois residents to stay in their homes to prevent the spread of COVID-19. Residents are encouraged to only leave their homes to meet their basic needs like making trips to the grocery
Cook County Assessor’s Office Suspends Assessment Notice Mailings and Deadlines
Cook County Assessor’s Office Suspends Assessment Notice Mailings and Deadlines On March 19th the Cook County Assessor’s Office announced that it has suspended assessment notice mailings and appeal deadlines. The suspension will remain in place until further notice while the Assessor’s Office remains closed to the public. Although assessment notice mailings and their corresponding deadlines