We are pleased to announce that David J. Ben-Dov has joined the firm as a partner. David is a valued legal and business counselor who focuses on complex business litigation.

Our focus on your success is more than just our tagline. It is our mission and our commitment to our clients. We would like to share a client’s success story that demonstrates that commitment.

The U.S. Chamber of Commerce predicts that 40% of the nation’s 30 million small businesses could close permanently in the next six months. Are you worried that your business will be one of the statistics? It may not have to be.

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GCT attorneys have highlighted eight challenges they can help you address amidst the COVID-19 pandemic.

The relief provisions of the CARES Act generally benefit coronavirus-impacted participants with accelerated retirement plan benefit payments and participant loan extensions. But what actions can employers take to relieve financial stress by reducing the cost of retirement plan benefits?

On April 24, 2020, President Donald Trump signed into law an additional $484 billion coronavirus relief aid package. Significantly, the bill provides a new $310 billion round of funding for the Paycheck Protection Program (“PPP”).

For purposes of the 401(k) and retirement plan relief provisions of the CARES Act, employers will be dealing with a new category of employee, the coronavirus impacted participant, or "CIP" for short.

As of Thursday, April 16, 2020, the nearly $350 billion allocated to fund the Payroll Protection Program (“PPP”, previously discussed in detail here) had been entirely committed. According to the American Bar Association, the Small Business Administration is no longer taking applications, and will not allow new applications to be placed in a queue.

Alumni and guests are invited to join members of the University of Illinois College of Law community at the annual alumni dinner in Chicago, featuring remarks by Dean Vikram Amar and Professor Andrew Leipold, and presentation of the Distinguished Alumni Award to GCT partner, David Saltiel, Class of 1979.

While we are following Governor Pritzker’s order to stay at home, our firm is still working. Because we have received many questions in the last few weeks, we want to reach out to you to provide a few reminders and tips.

Employers who are faced with difficult decisions on reductions in their workforce need to consider group health coverage issues. Are employees on furlough, a leave of absence, or working reduced hours eligible for continued group health coverage for themselves and their families?

Since we published our initial alert regarding the Families First Coronavirus Response Act, both the Department of Labor and the IRS have updated their guidance interpreting the complicated new law.

On March 27, 2020, President Donald Trump signed the Coronavirus Aid Relief and Economic Security Act (“CARES Act”) into law. The law contains a number of provisions that deal directly with retirement plan benefits.

On March 27, 2020, President Donald Trump signed the Coronavirus Aid Relief and Economic Security Act (“CARES Act”) into law. The law includes significant aid for small businesses and individuals affected by the novel coronavirus and the surrounding economic consequences.

Women’s advocacy organizations in Chicago decided to push back the Equal Pay Day rally to center the experiences of women of color, and in recognition of the fact that we will not close the gender wage gap until every woman is compensated with equal pay for equal work.

On March 26, 2020, Illinois Governor Pritzker issued Executive Order 2020-14. In response to the risk of in-person contact necessary in the notarization and witnessing of documents, the Executive Order allows notaries and witnesses to carry out their respective duties through video-conferencing.

The financial stress of the coronavirus pandemic is impacting many businesses and their employees. In this environment, employers in particular may need to review their 401(k) plans and consider the planning opportunities that may be available to them.

In Notice 2020-18, the Internal Revenue Service announced Federal income tax return filing and payment relief by moving the due date for filing certain returns and paying the related taxes from April 15 to July 15. The Service has released an FAQ that offers guidance as to which tax returns (and their related payments) are eligible for this relief, which may be accessed here.

The Families First Coronavirus Response Act (“Families First Act”), is the first federal emergency relief bill that addresses the ongoing COVID-19 pandemic. The Act creates two new temporary laws – the Emergency Family and Medical Leave Expansion Act (“EFMLA”) and the Emergency Paid Sick Leave Act (“EPSLA”).

If your business has been impacted by the Coronavirus Outbreak and the most recent mandate of our governor to “Shelter in Place,” you are not alone.

If your business is closed or is suffering from a drop off in sales as a result of the Coronavirus Outbreak, we encourage you to stay calm. While bankruptcy is always an option, you may be able to ride out the storm by trying to reduce your expenses.

On Tuesday, March 17, 2020, Secretary of the Treasury, Steve Mnuchin, speaking at a coronavirus news conference, announced that the government will be deferring required 2019 income tax payments for 90 days, penalty-free.

We are vigorously monitoring the information and news concerning coronavirus (COVID-19). Our firm has taken steps to ensure that we respond to our clients’ needs and continue to provide a high level and quality of service while also protecting our employees and their families.

The Leading Lawyers Network has recognized four GCT attorneys in their 2020 Leading Lawyers list along with a firm recognition in their Top 100 Law Firms list. In addition, Chicago Lawyer Magazine has also recently recognized five firm attorneys in their Top Tax-Related Lawyers and Top Trust, Will & Estate Lawyers lists.