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
The Cook County Assessor is doing what?
Amy Blumenthal
Partner
When you push a pause button on a computer, it shuts down. When you push a pause button on a human, as is occurring now in the midst of the Coronavirus pandemic gripping most of the world, we do not rest.
Gould & Ratner presents the second installment of our Construction Interview Series on adapting to the COVID-19 pandemic and beyond.
Application Now Available With New Interim Final Rules for Paycheck Protection Program
Last week, the Chicago City Council passed the COVID-19 Anti-Retaliation Ordinance, which aims to protect covered employees who remain at home if they have symptoms of COVID-19
While much of the construction industry has continued working throughout the pandemic, all stakeholders in a typical construction project have been impacted by the crisis.
Eric Sparks
Partner
Richard Reizen
Partner
Chair, Construction Practice
The IRS issued Notice 2020-29 on May 12, 2020, to assist with the response to the COVID-19 pandemic.
This week, the Department of Labor issued further clarification on the scope of FFCRA.
UPDATE – May 13, 2020: This morning, the Small Business Association (SBA) finally released the promised guidance regarding what a "good faith certification" looks like for the purpose of complying with the Paycheck Protection Program (PPP)
Gould & Ratner presents the first installment of our Construction Interview Series on adapting to the COVID-19 pandemic and beyond.
Richard Reizen
Partner
Chair, Construction Practice