Gould + Ratner
Illinois Employers Take Note: Key Employment Law Changes Taking Effect in 2027
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Illinois Employers Take Note: Key Employment Law Changes Taking Effect in 2027

Illinois employers face two fairly significant changes to state employment law beginning January 1, 2027.
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FinCEN Permanently Ends Beneficial Ownership Reporting for U.S. Companies and Will Delete Previously Filed Data
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FinCEN Permanently Ends Beneficial Ownership Reporting for U.S. Companies and Will Delete Previously Filed Data

On August 11, 2026, the Financial Crimes Enforcement Network (FinCEN) issued a final rule permanently eliminating the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) under the Corporate Transparency Act (CTA).
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Illinois Decouples from Federal QSBS Exclusion and Further Limits Corporate NOL Deductions
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Illinois Decouples from Federal QSBS Exclusion and Further Limits Corporate NOL Deductions

On June 16, 2026, Governor Pritzker signed Public Act 104-0468 into law. The Illinois Act makes two significant income tax changes: it decouples Illinois from the federal qualified small business stock (“QSBS”) gain exclusion under Code Section 1202 and further restricts the use of corporate net operating loss (“NOL”) carryover deductions.
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2026 Construction Forecast: The Only Thing Certain is Uncertainty
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2026 Construction Forecast: The Only Thing Certain is Uncertainty

As 2026 dawns, it is natural to consider the outlook for construction in the coming year.
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Publications

News
Events
Unfortunately, we have seen an unprecedented spike in COVID-19 cases over the past few weeks. We have also been warned that this winter will be a dark and difficult time, and that the pandemic will likely get significantly worse before vaccines are widely available and we begin our return to normalcy.
Richard Reizen
Partner
Chair, Construction Practice
Four days after the election, an anxious America got the news: Donald Trump would be a one-term president. As administrations shift, so do priorities. How will a Joe Biden-Kamala Harris administration combat COVID-19’s effect on the economy?
Insurers across the nation continue to file motions to dismiss COVID-19 cases brought by policyholders on three primary grounds.
The US Patent and Trademark Office issued Examination Guide 3-20 on Oct. 28 to clarify procedures that trademark examiners should follow in view of the U.S. Supreme Court’s June 2020 ruling.
The first reported substantive ruling by a judge sitting in Illinois on the legal implications of whether COVID-19 and the resulting governmental shelter-in-place orders
As we wrote about in a recent article, the trends in insurance coverage for COVID-19 related losses are: 1) so far insurers are winning, and 2) the cases are fact intensive and turn on policy and pleading language.
The stark effects of the coronavirus pandemic are conspicuously clear in downtown Chicago: Shuttered businesses that once catered to throngs of commuters and office workers loom over bare sidewalks
Under established Illinois law, an insurer must defend a legal action filed against its insured unless it is clear from the face of the underlying complaint that the allegations fail to state facts
The Illinois Environmental Protection Agency announced on Sep. 14 that it plans to conduct a statewide investigation into the presence of per- and polyfluororalkyl substances (PFAs) in the state’s community water supply.
David Michael
Managing Partner
Chair, Human Resources and Employment Law Practice