The Impact of New Tax Bill - The One Big Beautiful Bill Act

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The One Big Beautiful Bill Act (OBBBA), enacted on July 4, 2025, as Pub. L. No. 119-21, permanently extends and modifies key provisions from the 2017 Tax Cuts and Jobs Act (TCJA) while introducing new tax benefits and limitations. The law affects individuals, seniors, children, businesses, and charitable organizations.

Lavelle Law Shareholder Steven Migala and DHJJ Financial Principal Ed Brooks join host Jim Mitchell for an in-depth look at the new U.S. tax legislation, the One Big Beautiful Bill Act, and discuss how it will impact both businesses and individuals.

In the United States, the "American Rule" generally requires each party in a legal dispute to cover their own attorney's fees, regardless of the case's outcome. However, exceptions exist where a judge may order one party to pay the other's attorney’s fees in specific circumstances. Sarah Reusché explains.

In commercial leases, particularly those involving retail or office spaces, tenants typically pay not only base rent but also a share of additional operating expenses. These include Common Area Maintenance (CAM) charges, property taxes, and insurance premiums. The reconciliation of these expenses is a key process.

Attorneys drafting or reviewing indemnification clauses and notice provisions in a sale or acquisition governed by Delaware law should be aware of the recent Delaware Supreme Court decision in Thompson Street Capital Partners IV L.P. v. Sonova U.S. Hearing Instruments, LLC.

Beginning July 1, Illinois residents will face a series of tax increases related to the Fiscal Year 2026 budget, which takes effect from July 1, 2025, to June 30, 2026. These increases are from the $55+B state budget that is supposed to generate $700+M of new taxes ranging from gasoline, short-term rentals, and more.

Restaurant patrons allegedly became ill from eating contaminated cilantro and filed personal injury lawsuits against two Chicago restaurants. As part of the litigation, the distributor who sold the cilantro to the restaurants, Martin Produce, Inc., filed a third-party complaint for contribution against the wholesalers.

Anyone going through a divorce in Illinois is required to complete a financial affidavit as part of the legal process. Each spouse completes their own financial affidavit, utilizing all financial records and information available to them. Follow this step-by-step guide to streamline the process and avoid costly errors.