January 2024 - Boodell & Domanskis, LLC

BOI FILINGS UPDATE: US Treasury Suspends Corporate Transparency Act Enforcement

The US Department of the Treasury announced on March 2, 2025 that it will no longer enforce penalties or fines related to the Corporate Transparency Act (CTA) for US citizens, domestic reporting companies, or their beneficial owners. Additionally, the Treasury plans to issue a new proposed rule that will limit… Read More →

NEW DEADLINE FOR CORPORATE TRANSPARENCY ACT: BOI FILING

Following a recent ruling by the U.S. District Court for the Eastern District of Texas on February 18, 2025, the nationwide injunction against the CTA has been lifted. As a result, the Financial Crimes Enforcement Network (FinCEN) has reinstated the requirement to report Beneficial Ownership Information (BOI). The new deadline… Read More →

Balancing Ethics and Innovation: New Illinois Supreme Court Policy on Artificial Intelligence

Effective January 1, 2025, the Illinois Supreme Court (the “Court”) implemented new guidance on the use of Artificial Intelligence (“AI”) to promote equitable access to justice. In creating its policy, the Court acknowledged the fast development of AI technologies and raised concerns about “authenticity, accuracy, bias, and the integrity of… Read More →

Beneficial Ownership Information Report Form

Open Beneficial Ownership Information Report (BOIR) form here: Beneficial Owner Information Form 10.16.24… Read More →

Prepare Today for Tomorrow

Life, health, and family circumstances can change in a heartbeat. Children are born, family members die, life changes. Our lives are busy, and we often fly through days, weeks, and months on autopilot until we reach the next milestone and find ourselves wondering where the time has gone. The holiday… Read More →

B&D Recognized for Real Estate Law Excellence in 2025 by Best Law Firms®

November 7, 2024 – We are proud to announce that Al Domanskis and Boodell & Domanskis, LLC have been recognized by Best Law Firms® as a Chicago Metro leading law firm in Real Estate Law for 2025. Best Law Firms® is a trusted resource for those seeking authoritative legal insight. They combine in-depth… Read More →

New Rule for Residential Real Estate Transfers

In August 2024, the Financial Crimes Enforcement Network (FinCEN) announced a Final Rule that is designed to combat and deter money-laundering by increasing transparency in the US residential real estate market. The rule requires that certain persons involved in a residential real estate closing are to report information to FinCEN… Read More →

FTC Non-Compete Clause Final Rule On Hold

On May 29, 2024 we reported that the Federal Trade Commission (“FTC”) had issued a final rule that would ban non-competition clauses between workers and employers, deeming them “an unfair method of competition” in violation of Section 5 of the FTC Act. Read the full article here. The ban was… Read More →

August is National Make-A-Will Month

Did you know that August is National Make-A-Will Month? As children start returning to school, it’s time for parents, grandparents, and others to make sure those children are protected in the event something happens to you. This means you should take some time to either have a will and trust… Read More →

10 Year Rule Finalized by IRS

10-Year Required Minimum Distribution Rule Finalized By The IRS In 2019, the Setting Every Community Up for Retirement Enhancement (“SECURE”) Act was passed and went into effect in 2020. Click here for the full SECURE ACT. The SECURE Act established that many people who inherited individual retirement accounts (“IRA”) or… Read More →

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Month: January 2024

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