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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UPDATE: On April 15, 2020, the SBA released additional guidance on frequently asked questions (FAQs) related to the new Paycheck Protection Program (PPP) Loans provided for in the CARES Act.
Jennifer Tolsky
Partner
Chair, Tax Planning and Structuring Practice
Vanessa Tiradentes
Partner
In response to the ongoing COVID-19 pandemic, the IRS previously issued several notices to provide relief to taxpayers by postponing the due date for filing federal income tax returns
Jennifer Tolsky
Partner
Chair, Tax Planning and Structuring Practice
A significant component of the sweeping $2 trillion economic stimulus enacted on March 27, 2020, is a $500 billion Exchange Stabilization Fund
The CDC this week issued updated COVID-19 guidance for employers, supplementing its “Interim Guidance for Businesses and Employers to Plan and Respond to Coronavirus Disease 2019
The Federal Reserve yesterday announced a series of actions authorized by the CARES Act to try to stabilize the economy
The Federal Reserve yesterday announced a series of actions authorized by the CARES Act to try to stabilize the economy amidst the fallout from the COVID-19 pandemic, including two measures targeted at helping hard-hit small and mid-sized businesses.
The IRS yesterday announced some relief for taxpayers currently engaged in a 1031 like-kind exchange, most notably that any 45-day or 180-day deadline that occurs between April 1 and July 14 is extended to July 15, 2020.
The U.S. Department of Labor (DOL) published a temporary rule Monday, April 6, 2020, that provides additional guidance on the Emergency Paid Sick Leave Act (EPSLA) and the Emergency Family and Medical Leave Expansion Act (EFMLEA)
While much attention has been focused on the relief provided in the recently enacted CARES Act that targets individuals and small businesses impacted by the COVID-19 pandemic
Vanessa Tiradentes
Partner
There are many issues that a business must consider when a vendor, customer or other contact files for bankruptcy protection.
Matthew Olins
Partner
Chair, Business Reorganization and Creditors’ Rights Practice