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Penalty For Improper Exemptions
Under a new law (35 ILCS 200/9-275), the Cook County Assessor is hunting for homeowners who are claiming property tax exemptions for which they do not qualify. The consequences can include repayment of up to 6 years of unpaid tax, plus 10% interest per year plus a penalty of 50% of the total unpaid tax. Moreover, the Assessor is authorized to record liens against real estate if the homeowner does not pay as required.
Risk Analysis Leads Court to Overturn Unfriendly Reading of Rep Contract
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Limited Liability Companies As Asset Protection Tools
Question: Is there a way for my spouse and I to protect our joint securities portfolio from creditors?
Despite lesser stakes, federal courts decide bias claim using precedent
Just in time for summer, consider the plight of snowboarders in the Wasatch Mountains of northern Utah, home of the Alta Ski Area. Alta is well-known as a skiers-only resort. It is one of only three in the country that bans snowboarders.
Legally Speaking – Reps Should Not Always Turn the Other Cheek
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Establishing Florida Residency for Tax and Other Purposes
Question: I will be spending the winter months in my recently-purchased Florida home and residing the balance of the year in my Illinois residence. Can I claim Florida as my State of residence for tax and other purposes?
Tax Benefits of Direct Transfers From IRAs to Charities
Question: Having reached age 70½ and begun my minimum required IRA distributions, I question the benefits of directly transferring my IRA funds to charitable organizations rather than making charitable contributions directly as I have done in the past.
Pulling Back the Curtain – New Disclosure Requirements for Union-Resistance Campaigns
One of the most feared prospects for many employers is a workforce unionization effort. Management and human resources personnel will often take vigorous measures to avoid the increased labor expense and inflexibility regarding personnel decisions that seem to invariably follow once a company becomes unionized.
Legally Speaking – Court awards rep post-termination damages with a nod to ERA
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Hacking cases shine spotlight on faulty defenses, consumer rights
By now, virtually every consumer knows of or was affected by highly publicized hacking incidents involving large companies’ computer systems. The 21st century crime of data breaching, most recently aimed at certain lawyers’ papers in Panama City, Panama, also famously victimized Target, Home Depot, Ashley Madison, Sony, eBay and, ironically, the ID theft-protection firm Lifelock, among others.