The Corporate Transparency Act (CTA)

The Corporate Transparency Act (CTA) will become effective on January 1, 2024. While the Act does not create a public registry of business entities in the United States, it is intended to set a clear standard for federal incorporation practices, protect national security, combat money laundering and terrorism financing, and ultimately bring the United States… Continue reading The Corporate Transparency Act (CTA)

Illinois Paid Leave Law

Bill 208 has been passed by the Illinois legislature guaranteeing five (5) days or forty (40) hours of paid leave for all employees in the state, in either the public or private sector, to be used for any reason. The bill is known as the Paid Leave for All Workers Act (“Act”) which Governor J.B.… Continue reading Illinois Paid Leave Law

Important Ruling on Biometric Information Privacy Act

Biometrical finger print scanner

In early 2022, the Illinois Supreme Court ruled on a certified question in McDonald v. Bronzeville Park, LLC. The question before the Court was whether the exclusivity provisions of the Workers’ Compensation Act (“Compensation Act”) bar a claim for statutory damages under the Biometric Information Privacy Act (“BIPA” or the “Privacy Act”) where an employer… Continue reading Important Ruling on Biometric Information Privacy Act

Change in Illinois Restrictive Covenants Law

Symbol of law and justice. Law and justice concept.

On January 1, 2022, an amendment to the Illinois Freedom to Work Act will go into effect. The amendment implements several protections for middle-class employees against restrictive covenants such as non-competition and non-solicitation agreements. In sum, the amendment voids restrictive covenants for certain employees below an earnings threshold, codifies existing Illinois common law, and allows… Continue reading Change in Illinois Restrictive Covenants Law

100% Food and Beverage Expense Deduction for 2021 and 2022

Income Tax Return Deduction Refund Concept

The IRS has issued Notice 2021-25 that temporarily increases for 2021 and 2022 the Business Deduction for Business Meal Expenses to 100% from 50%. This applies to food or beverages provided by a restaurant. The term “restaurant” means a business that prepares and sells food or beverages to retail customers for immediate consumption, regardless of… Continue reading 100% Food and Beverage Expense Deduction for 2021 and 2022

Illinois Adopts Federal Vaccine Mandate

Glass vials for vaccine in laboratory. Group of vaccine bottles. Medicine in ampoules.

In April, 2020 the Families First Coronavirus Response Act (FFCRA) went into effect to require employers to provide employees with paid sick leave and expanded family and medical leave in response to the ongoing COVID-19 pandemic. On December 31, 2020, these mandatory leave requirements expired and were replaced by a fully refundable tax credit available… Continue reading Illinois Adopts Federal Vaccine Mandate