As a follow up to our most recent post regarding the Beneficial Ownership Information ("BOI") Reporting imposed by the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”), we have put together a FAQs to provide answers to questions that many entity and business owners are asking. Please click here to view: BOI FAQ - 2024

There is finally a common sense amendment to the Illinois Biometric Information Privacy Act (“BIPA”). The new Amendment, signed on August 2, 2024 by Governor Pritzker, allows entities to obtain consent via electronic signature, but far more importantly, it did away with “per scan” damages. That is, pursuant to Illinois Supreme Court precedent (Cothron v. White Castle), each data capture (i.e., fingerprint or eye scan) could constitute a separate BIPA violation with damages up

In May 2024, OlenderFeldman LLP notified its clients of the Federal Trade Commission’s (FTC) final rule banning nearly all non-competes and invalidating those non-competes below a senior executive level (“Non-Compete Rule”). This sweeping Non-Compete Rule has sparked legal challenges across the country, with federal lawsuits filed in Texas, Pennsylvania, and Florida seeking to block or delay the implementation of the ban, raising important questions for employers and employee

As we predicted, on August 20, 2024, hours after our latest FAQ, a federal judge in the Northern District of Texas struck down the Federal Trade Commission’s (FTC) proposed nationwide ban on non-compete agreements. The Texas court found that the FTC exceeded its authority and declared the Non-Compete Rule "unreasonably overbroad." As a result, the rule banning non-competes, which was set to go into effect on September 4, 2024, has been blocked and will not be implemented unle

Date: December 19, 2024Time: 4:00pm – 6:00pm ETLocation: Online via ZoomRegistration Fee: Complimentary for OlenderFeldman clients Join us for an insightful session covering the most critical employment law topics affecting businesses in 2025. Our experienced employment attorneys will guide you through the complex legal landscape and provide strategies to ensure compliance and mitigate risks. You can review the agenda here: AGENDA Register Today and Secure your Spot!...

Earlier this year, OlenderFeldman LLP notified its clients of the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCen”) requirement that a majority of businesses would be required to disclose their Beneficial Ownership information (“BOI”) under the Corporate Transparency Act (“CTA”). Q. What has happened? A. Yesterday, December 3, 2024, the Eastern District of Texas issued an injunction blocking the CTA Nationwide. The Court determined that FinCen does no

The FBI is advising all Americans to use encrypted messaging apps for messaging and phone calls due to an ongoing hack believed to have originated in China. The hackers have been accessing 3 primary types of information: (1) call records of metadata that show who called who and when. This has been focused in the Washington, DC area; (2) listening to live phone calls of specific targets; and (3) systems used by telecommunications companies to store certain communications to ma

The Internal Revenue Service has introduced a standardized form for taxpayers who are making an election under Section 83(b) of the Internal Revenue Code of 1986 to be taxed on the value of certain property when it is granted rather than as it vests. This change is aimed at simplifying the process for taxpayers and ensuring consistent reporting of these elections. The Section 83(b) election is an important tax tool for individuals who receive restricted property, such as stoc

On December 23, 2024, the U.S. Fifth Circuit Court of Appeals in Texas Top Cop Shop, Inc., et al. v. Garland, et al, issued an order lifting the nationwide preliminary injunction against the enforcement of the CTA. In its ruling, the Fifth Circuit determined that the government had successfully demonstrated the nationwide injunction was not warranted. Following this Court of Appeals decision, reporting companies are now required to file beneficial ownership information with