On April 1, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit comments from the public on issues relevant to the implementation of the Corporate Transparency Act (CTA). The CTA was enacted into law as part of the National Defense Authorization Act for Fiscal Year 2021.
Schiff Hardin LLP is pleased to announce that Partner Susan Bart served as one of the compiling editors for the American College of Trust and Estate Counsel (ACTEC) Pocket Tax Tables guide.
The big question in the estate planning world today is whether, when, and to what extent Congress will enact changes to gift, estate, and income tax laws.
Each year, more than two million corporations, limited liability companies (LLCs), and other entities are formed in the United States. Historically, formation of these entities required little to no disclosure of their beneficial owners.
Many corporations, limited liability companies, and other similar entities will soon be required to disclose their beneficial owners to the United States government.
2020 was an unprecedented year for business owners. It brought a pandemic, a deep recession, a civil rights movement, and civil unrest in cities across America.
On December 15, New York Governor Andrew Cuomo signed a bill representing the most significant change to the New York law governing Powers of Attorney (POA) in almost a decade.
Schiff Hardin LLP has received 46 top-tier rankings in the 2021 edition of U.S. News – Best Lawyers® “Best Law Firms,” nationally recognizing the firm’s premier practices.
Minority owners of a business face unique challenges. With limited or no control over the management and governance of a business, minority owners can be unfairly left in the cold or squeezed out. However, deliberate preparation and negotiation at the initial stages of the business can set up minority owners with the necessary tools to eliminate or reduce many of these difficulties and even avoid future conflict.
Schiff Hardin LLP is pleased to announce that Partner Lucy Bickford has been awarded the Diversity & Flexibility Alliance’s 2020 Flex Success® Award, recognizing her achievements and professional success while working reduced hours.
Unlike businesses with a single controlling owner or several owners, a 50/50 business by its very nature is ripe for disagreement between its owners. Owners of a 50/50 business will need to proactively consider how to handle disagreements when setting up their business venture and drafting their operating agreement, shareholders agreement, or partnership agreement.