Insights

Q1-2024  Employment Spotlight

Q1-2024 Employment Spotlight

The U.S. Department of Labor’s new rule, effective March 11, 2024, aims to clarify worker classification under the Fair Labor Standards Act. It defines “independent contractor” based on economic dependence, utilizing a “six plus one” factor test. These factors slightly favor an employment relationship.

read more
Illinois and Chicago Overhaul Paid Leave Laws in 2024

Illinois and Chicago Overhaul Paid Leave Laws in 2024

In 2024, the employment landscape in Illinois, particularly in Chicago, will undergo a significant transformation with the implementation of two pivotal laws governing paid leave for workers. The Illinois Paid Leave for All Workers Act (the “Act”) introduces a comprehensive state-wide standard for paid leave, ensuring a minimum of forty hours annually of paid leave—which can be used for any reason—for all employees.

read more
The Corporate Transparency Act:  What Business Owners Need to Know

The Corporate Transparency Act: What Business Owners Need to Know

The Corporate Transparency Act (“CTA”) was enacted in 2021 to improve transparency in order to prevent bad actors from engaging in money laundering, tax fraud, and other illicit activities from exploiting US companies. Beginning January 1, 2024, the CTA requires “reporting companies” to report information about the individuals who own or control the company to the Financial Crimes Enforcement Network (“FinCEN”).

read more