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
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).
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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
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.
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Publications

News
Events
The clip, now dubbed by some as “Coldplay Gate,” depicts the married CEO of Astronomer, Inc., having an affectionate moment with the company’s Chief People Officer (CPO).
David Michael
Managing Partner
Chair, Human Resources and Employment Law Practice
The United States Supreme Court has determined that the Americans with Disabilities Act (“ADA”) does not extend to discrimination claims from retired employees.
David Michael
Managing Partner
Chair, Human Resources and Employment Law Practice
This article will address the importance of construction project communication and offer some simple steps to make sure such communication is a reality and not an illusion.
Richard Reizen
Partner
Chair, Construction Practice
Ellen Chapelle
Partner
Chair, Insurance Counseling and Recovery
Hannah Batsche
Associate
Although the OBBBA’s tax and spending provisions tend to receive greater media attention, it also contains several provisions impacting employer-sponsored benefit plans.
Hrishikesh Shah
Partner
Chair, Employee Benefits and Executive Compensation Practice
The Tax Cuts and Jobs Act (“TCJA”), which was signed into law on December 22, 2017, made some of the most significant changes to the tax law since the Tax Reform Act of 1986.
Jennifer Tolsky
Partner
Chair, Tax Planning and Structuring Practice
Abby Mahony
Partner
The OBBBA has wide-ranging implications for the real estate market. Here are 10 things every real estate investor should know about the OBBBA.
Aaron Whyte
Associate
On July 4, President Donald Trump signed the One Big Beautiful Bill Act (“OBBB”) into law. Among many changes, the OBBB included an expansion of the qualified small business stock (“QSBS”) gain exclusion under Section 1202 of the Internal Revenue Code.
Abby Mahony
Partner
On June 27, 2025, the Supreme Court issued its decision on review of three federal court orders that have blocked—on a nationwide basis—implementation of President Trump’s executive order restricting so-called “birthright citizenship” under the Fourteenth Amendment of the Constitution (whereby a child born in the United States “and subject to the jurisdiction thereof” is automatically deemed a citizen regardless of parental status).
Alec Cerqueira
Associate
On June 5, 2025, the Supreme Court issued a unanimous decision in Ames v. Ohio Department of Youth Services, striking down the “background circumstances” requirement in so-called “reverse discrimination” cases.
With summer officially here, students across the country are beginning internships, eager to gain experience and make their mark.
David Michael
Managing Partner
Chair, Human Resources and Employment Law Practice