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U.S. DEPARTMENT OF TREASURY SUSPENDS ENFORCEMENT OF CERTAIN FINES AND PENALTIES UNDER THE CTA
March 4, 2025
In a news release issued on March 2, the U.S. Department of Treasury announced that it will discontinue enforcement of penalties and fines under the Corporate Transparency Act’s (“CTA”) current beneficial ownership information reporting rule with respect to U.S. citizens, domestic reporting companies, and their beneficial owners. However, the reporting requirements will remain in effect […]
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Michigan Legislature Reaches Last Minute Compromise on Earned Sick Time Act Amendments
February 21, 2025
Late Thursday, February 20, 2025, the Michigan Legislature passed an amendment to the Earned Sick Time Act (ESTA). This amendment changes requirements under ESTA that were set to go into effect just a few hours later. Importantly, the Legislative amendments take immediate effect on February 21, 2025. Governor Whitmer is expected to sign the bill […]
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Navigating a Workplace Raid by a Federal Agency
January 30, 2025
The Trump Administration has made immigration law enforcement one of its top priorities and has already directed federal law enforcement agencies to begin conducting raids in search of unauthorized workers within the United States. Employers should know that there is an increased likelihood of scrutiny by federal agencies regarding the employment of foreign workers. The […]
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Estate and Gift Tax Uncertainty in 2025
February 18, 2025
At the end of 2025, the tax exemption for federal estate and gift taxes is scheduled to revert to what it was in 2012 with cost-of-living increases. Currently, the exemption is $13,990,000 per person. Given the size of the exemption, the vast majority of people do not need to be concerned about the estate tax […]
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Corporate Transparency Act Reporting Requirements Reinstated
December 24, 2024
On December 23, 2024, the Fifth Circuit Court of Appeals issued an order staying the preliminary injunction granted by a Texas District Court in Texas Top Cop Shop, Inc. v. Garland. As a result, the requirement for companies to report beneficial ownership information is reinstated, effective immediately. While many reporting companies were previously required to […]
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Thirty Six Attorneys Selected for Inclusion in 2024 Grand Rapids Magazine Top Lawyers
December 23, 2024
Rhoades McKee is honored that 36 lawyers across 20 practice specialties were recognized by their peers as Top Lawyers for excellence in their areas of specialization. Our attorneys understand the importance of identifying, investigating, and responding to interrelated legal issues. We use an interdisciplinary team approach that allows us to maximize our knowledge and experience […]
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Federal District Court Issues Temporary Injunction Against Corporate Transparency Act Nationwide
December 5, 2024
The Eastern District of Texas issued a nationwide preliminary injunction on December 3, 2024, pausing the reporting obligations imposed by the Corporate Transparency Act (CTA). The decision, Texas Top Cop Shop, Inc. v. Garland, comes shortly before a significant reporting deadline on January 1, 2025 – the date on which companies in existence as of […]
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TEXAS COURT DELIVERS EARLY HOLIDAY GIFT TO MICHIGAN EMPLOYERS
October 18, 2024
Michigan employers have faced a level of uncertainty in setting their personnel budgets for 2025 due to the United States Department of Labor’s 2024 Rule that increased the minimum salary for employees exempt from overtime under the Fair Labor Standards Act as Administrative, Executive, or Professional employees. The increase was scheduled in two phases: the […]
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THE IMPACT OF CONNELLY V. UNITED STATES ON SUCCESSION PLANNING FOR BUSINESS OWNERS
October 3, 2024
On June 6, 2024, the Supreme Court of the United States ruled in a 9-0 decision that life insurance proceeds from a company-owned policy used to redeem a deceased owner’s interest in a closely held business must be included when calculating the value of that owner’s interest for federal estate tax purposes. The Court’s ruling […]
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Rhoades McKee’s Commercial Litigation Team Once Again Ranked By Chambers and Partners
July 27, 2024
Among only 17 other Michigan law firms, Rhoades McKee’s Commercial Litigation Team was ranked by Chambers and Partners for their representative work. According to interviews completed by Chambers, “Rhoades McKee has an excellent group of attorneys who successfully analyze, manage, and argue very complex and unique litigation and appellate issues,” further adding that “the firm […]
