The Corporate Transparency Act: Widespread Application of Regulatory Requirements Beginning January 1, 2024, a majority of businesses will be required to disclose their Beneficial Ownership Information (“BOI”) to the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) to comply with the Corporate Transparency Act (“CTA”). The CTA, enacted as part of the Anti-Money Laundering Act, requires all Reporting Companies to file reports detailing their BOI for

The COVID-19 Pandemic has abated but its impact has forever changed New Jersey’s legal landscape. “Zoom” court hearings, virtual meetings and remote work have become commonplace. These efficiencies have yet to solve the riddle of whether to litigate a claim in the court system or engage in some type of alternative dispute resolution such as mediation or arbitration. This quick FAQ addresses some basic questions many of our clients have in relation to the differences betwee

As a business owner an operating agreement or shareholders agreement (an “operating agreement”) is an essential element in the operation of your company. An operating agreement sets out the rules and regulations for the operation and management of the company. There are many reasons why it may be time to review your operating agreement. If your business has undergone any significant changes, is operating differently, or has faced new financial circumstances since its last op

DATA PRIVACY LAWS – WHAT’S NEW IN 2024?By: Michael J. Feldman & Marguerite Kneisser Since the European Union (“EU”) enacted the General Data Protection Regulation (“GDPR”) in 2018, see OlenderFeldman 2023 Data Privacy Updates, calling for widespread change to the way data is collected, stored, transmitted, and secured, more and more states in the United States (“US”) have enacted data privacy laws to provide protection to consumers and set forth consumers’ rights to data rela

OlenderFeldman Attorneys Recognized by 2024 Super Lawyers Magazine!

Last year, OlenderFeldman LLP notified its clients of the Federal Trade Commission’s (FTC) Notice of Proposed Rulemaking, which it released on January 5, 2023, seeking to ban employers from enforcing or entering into employment agreements that contain restrictions or limitations on the ability of employees to compete following the end of an employment relationship, subject to limited exceptions as detailed below. On April 23, 2024, the FTC issued the final rule banning and in

The Federal Fair Labor Standards Act (“FLSA”) requires employers in the United States to pay all employees overtime pay of at least time and one-half the regular rate of pay for all hours worked over 40 hours in a workweek unless they are exempt from overtime pay. The U.S. Department of Labor (“USDOL”) periodically reviews these exemptions for modifications and adjustments. On April 23, 2024, USDOL announced a final rule (“Federal Exemption Rule”) redefining the standards fo

Recently, the New Jersey Supreme Court’s Committee on the Unauthorized Practice of Law issued a letter to the New Jersey Society of CPAs, providing some much-needed guidance on whether Certified Public Accountants (CPAs) and Enrolled Agents (EAs) in the state can prepare and file the FinCEN Beneficial Ownership Information Reports under Corporate Transparency Act. The letter identifies two critical issues: First, whether providing guidance and filing BOI Reports constitutes p

In light of the new obligation under the US Treasury Department's Financial Crimes Enforcement Network ("FinCEN") to report beneficial ownership Information ("BOI"), OlenderFeldman is offering assistance via its own BOI Platform. For more information, please click here: OlenderFeldman BOI Services. Thank you