On October 1, 2025, the Illinois Secretary of State announced an amnesty program for corporations who are behind on paying their annual Franchise Taxes due in Illinois. This applies to those organized as Illinois corporations or those organized in…
Background
On July 4, 2025, President Donald J. Trump signed into law the One Big Beautiful Bill Act (“OB3”). Among its many provisions, OB3 introduces a new, temporary tax deduction for passenger-vehicle loan interest1 and imposes…
The Federal Trade Commission (“FTC”) sent letters on September 10 prompting many large health care employers and staffing firms to review their noncompete agreements (“noncompetes”) for compliance with Section 5 of the FTC Act, 15 U.S.C. § 45, which…
President Donald Trump caught the attention of many recently with the following Truth Social post:
Subject to SEC Approval, Companies and Corporations should no longer be forced to “Report” on a quarterly basis (Quarterly Reporting!), but rather to…
Tax-exempt healthcare organizations rely heavily on tax-exempt bond financing to fund facilities and equipment. While these financings provide critical access to lower-cost capital, borrowers must carefully observe post-issuance compliance…
Current IRS Audit Activity
In March 2024, in response to renewed calls from Congress for more robust oversight of tax-exempt hospitals, the Internal Revenue Service (“IRS”) Tax-Exempt and Government Entities (TE/GE) Division announced a new…
In response to the October 1, 2025 shutdown of the federal government, the Centers for Medicare & Medicaid Services (“CMS”) issued an MLN Connects Special Edition email providing an Update on Medicare Operations: Telehealth, Claims Processing, and…
Executive Order 14117 (Prevent Access to Americans’ Bulk Sensitive Personal Data and U.S. Government-Related Data by Countries of Concern) and its implementing regulations establish the Data Security Program (DSP), a new compliance framework that…
Brokered deposits occupy a unique place in bank funding: widely used, strategically valuable, and nevertheless scrutinized. Banks often rely on them to supplement local deposit bases, particularly when core deposits slow or fail to keep pace with…
On August 7, 2025, President Donald Trump issued an Executive Order titled “Guaranteed Fair Banking for All Americans”. The Executive Order prohibits financial institutions from engaging in “politicized or unlawful debanking” practices. “Debanking”…
The Section 184 Indian Home Loan Guarantee Program (the “Program”), administered by the U.S. Department of Housing and Urban Development (“HUD”), provides a home mortgage product specifically tailored for Native American families and federally…
1. Potential Redistricting in Indiana
Hoosier lawmakers could return to Indianapolis sometime this fall to draw new Congressional maps, an extraordinary step prompted by calls from President Donald Trump and his allies to attempt to help elect more…
