NEWS

Our client contacted us for advice regarding the termination of a long-time employee who was failing to meet performance standards. Our client already provided several accommodations for this employee, but they still were not meeting the mark.

Lavelle Law represented a joint venture in its $9.9 million acquisition of four multi-unit buildings.

Join us on May 21 in Schaumburg for an engaging Breakfast Briefs seminar, delving into vital strategies to fortify your business. This session will explore the critical role of crafting ironclad non-compete agreements, shielding your trade secrets, and mastering the nuances of temporary restraining orders (TROs) and injunctive relief. Our presenters, attorneys Matthew Sheahin and Jennifer Tee, bring a wealth of experience in this legal domain. Seize this chance to bolster your company’s legal protections and lay a solid groundwork for enduring success!

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued its interim final rule stating that those entities previously classified as "domestic reporting companies" are now exempt from all BOI reporting requirements. On the other hand, all foreign entities registered to do business in the USA must file their own initial BOI reports within 30 days of the initial final rule's publication, if they have not done so already.

Spring is here, and with baseball season kicking off, we’re stepping up to the plate with our annual Lavelle Law Business After Hours event. We’re excited to partner with our friends in the Schaumburg business community for an evening of networking, good vibes, and a few surprises—all hosted in the friendly confines of our Schaumburg office. Bonus points: Feel free to rock your favorite baseball team’s gear and show off your fandom while you’re at it!

On February 27, 2025, FinCEN issued an immediate press release stating it would not impose fines, penalties, or take any other enforcement actions against companies that fail to file or update Beneficial Ownership Information ("BOI") reports pursuant to the Corporate Transparency Act ("CTA") by the current deadlines. FinCEN also announced that it would be revising BOI reporting deadlines through an interim final rule set to be issued no later than March 21, 2025.

Lavelle Law represented a small Illinois business owner who had accumulated a large sales tax balance due to their accountant’s negligence. Unbeknownst to the client Illinois Department of Revenue (“IDOR”) was at the levy issuance phase in its collection. And the IDOR levied the taxpayer’s account right after the taxpayer had deposited funds from a HELOC that was obtained to provide capital to the company for the next 6 plus months.

This article will serve as another update to the ongoing Corporate Transparency Act developments. As of February 17, 2025, a federal judge in the Eastern District of Texas lifted the injunction it had ordered on January 7, 2025, in Smith v. U.S. Department of the Treasury, 6:24-cv-00336 (E.D. Tex.), allowing the federal government to once again enforce the Corporate Transparency Act and its Beneficial Ownership Information Report requirements.

Nearly 300 New Illinois Laws are going into effect in 2025. Listed below are some that may have a significant impact on you or your business.