Deadline approaches to file new mandatory report with Treasury Department

Lavelle Law represented an entrepreneur in the acquisition of four Domino’s Pizza restaurants.

As Thanksgiving approaches, it’s the perfect time to reflect on our blessings and ponder how you’d like to preserve them for the future. This season of gratitude is an ideal opportunity to reflect on and implement your estate plan so that you can ensure your legacy is served up just the way you want it.

Time is running out for business owners to file the Beneficial Ownership Information Report with FinCEN! The deadline for filing is December 31, 2024. If you don’t file accurately by then, you can face a $500 per-day civil penalty and a possible criminal fine of up to $10,000 and/or up to two-years imprisonment! Why risk it – call Frank Portera for our flat fee filing service and avoid the worry of penalties. 847-705-7555

Owning investment properties is often exciting and lucrative. However, investments in real estate, whether vacation rentals, long-term rentals, or properties for resale, can also create liabilities. Those liabilities make it critical for real estate investors to wisely choose how they will structure their businesses.

The Illinois Personnel Record Review Act (PRRA) will undergo significant changes effective January 1, 2025, expanding employee rights and imposing new obligations on employers. These amendments reflect a growing focus on workplace transparency and employee access to information.

The high inflation of the past couple of years coupled with economic aftershocks from COVID-19 has created a great amount of economic uncertainty in many people. Our office has been contacted by numerous individuals and businesses about how to handle their debts, which for many include IRS debt.

A new Chicago ordinance has introduced a pilot program for landlords within certain districts of the city, expanding the current pilot program already in place Woodlawn. If successful, this program may eventually be expanded further. For now, however, the Tenant Opportunity to Purchase Block (606) District Pilot Program (Chapter 5-11) is designed to provide tenants in Block 606 the right to be notified when their rental property is up for sale and, in many cases, to give them a Right of First Refusal (ROFR) to purchase the property.

In a significant move towards pay transparency and equity, Illinois is set to join a growing list of states requiring employers to disclose salary ranges in job postings. This new requirement, part of amendments to the Illinois Equal Pay Act, will take effect in January 2025. As businesses prepare for this change, understanding its implications is crucial for both compliance and strategic workforce management.

Join us for an insightful Breakfast Briefs seminar focused on essential strategies to protect your business as we approach the end of the year and plan for 2025. This session will cover the importance of developing robust non-compete agreements, safeguarding trade secrets, and understanding temporary restraining orders (TROs) and injunctive relief.