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

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.
More
FinCEN Permanently Ends Beneficial Ownership Reporting for U.S. Companies and Will Delete Previously Filed Data
Publication Highlight

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).
More
Illinois Decouples from Federal QSBS Exclusion and Further Limits Corporate NOL Deductions
Publication Highlight

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.
More
2026 Construction Forecast: The Only Thing Certain is Uncertainty
Publication Highlight

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.
More

Publications

News
Events
The U.S. Supreme Court recently held that a rig oil worker paid at a daily rate that amounted to $200,000 annually was entitled to overtime pay because he was not paid on a “salary basis” as required by the Fair Labor Standards Act (FLSA).
David Michael
Managing Partner
Chair, Human Resources and Employment Law Practice
A vast number of private businesses will face new requirements on how – and whether – they report their beneficial ownership interests to the U.S. government, effective at the start of 2024. While the time for compliance starts in several months, the time to prepare is now.
David Hoeppner
Partner
Congress passed two laws related to pregnant workers and nursing mothers in December 2022. First, Congress passed the Pregnant Workers Fairness Act (PWFA), which requires employers with at least 15 employees provide “reasonable accommodations” to a worker’s limitations related to pregnancy, childbirth or related medical conditions, unless the accommodations will cause an “undue hardship” to the employer (significant difficulty or expense for the employer).
On March 13, 2023, Illinois became only the third state to mandate paid time off for all workers in the state when it enacted the Paid Leave for All Workers Act. The act is effective January 1, 2024.
David Michael
Managing Partner
Chair, Human Resources and Employment Law Practice
Hannah Batsche
Associate
If you think that there is a lot of talk about new factory construction in the United States in recent months, you are correct.
Richard Reizen
Partner
Chair, Construction Practice
Hannah Batsche
Associate
Late last month, the U.S. Supreme Court agreed to hear Groff v. DeJoy, a case that could potentially change the legal landscape for employers handling accommodation requests for an employee’s religious beliefs and practices under Title VII.
The U.S. Department of Labor’s (DOL) Wage and Hour Division released a Field Assistance Bulletin (FAB) providing guidance about employer obligations and worker protections under the Fair Labor Standards Act (FLSA) and the Family and Medical Leave Act (FMLA) for remote employees.
The U.S. Department of Labor’s (DOL) Wage and Hour Division recently released an opinion letter finding that employees who qualify for leave under the FMLA may use FMLA leave to work reduced hours until they have exhausted their FMLA leave.
In an effort to remain one of the leading major U.S. cities in environmental conservation, the City of Chicago passed the 2022 Chicago Energy Transformation Code, which amends the previous 2019 code.
Hannah Batsche
Associate
The Consolidated Appropriations Act, 2023 (“Appropriations Act”) was signed by President Biden and became law on December 29, 2022. Included in the Appropriations Act is the SECURE 2.0 Act of 2022 (“Secure Act”), which includes various changes affecting retirement. Highlighted below are some of the key provisions of the Secure Act.
Jennifer Tolsky
Partner
Chair, Tax Planning and Structuring Practice