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Treasury Department Announces Suspension of Enforcement of Corporate Transparency Act Against U.S. Citizens and Domestic Reporting Companies
March 5th, 2025
The Treasury Department is announcing today that, with respect to the Corporate Transparency Act, not only will it not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing regulatory de…
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CORPORATE TRANSPARENCY ACT FILING REQUIREMENTS BACK IN EFFECT
February 19th, 2025
CORPORATE TRANSPARENCY ACT FILING REQUIREMENTS BACK IN EFFECT WITH EXTENDED REPORTING DEADLINE OF MARCH 21, 2025 February 19, 2025 Following the February 18, 2025 decision by the U.S. District Court for the Eastern District of Texas in Smith v. U.S.…
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Congratulations to Kevin Barry as a 2025 Lawyer of Distinction!
January 27th, 2025
FOR IMMEDIATE RELEASE January 27, 2025 Kevin J. Barry of BARRY LAW, INC. is Awarded to Lawyers of Distinction The Lawyers of Distinction is pleased to announce that Kevin J. Barry of BARRY LAW, INC. of Chicago, Illinois has been certified as a distin…
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Small Businesses to Report to Financial Crimes Network
September 25th, 2024
Now many small Illinois businesses must report their beneficial interest to the Financial Crimes Enforcement Network. Feel free to contact Barry Law, Inc. at (773) 779-6100 to discuss the new requirements.
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It's Never Too Late for Estate Planning... Or Is It?
May 24th, 2024
Estate planning is often one of those tasks that people tend to put off until later in life, or sometimes, until it’s too late. The idea of contemplating one’s mortality and the intricacies of distributing assets can be daunting, leading…
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It’s Never Too Late To Start Estate Planning
May 21st, 2024
It is never too early to create an Estate Plan. However, putting it off too long can lead to catastrophe should you pass away without clearly detailing your wishes. Dying or even becoming incapacitated without a Will or Estate Plan denies countless o…
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Two-Thirds of Americans Do Not Have an Estate Plan
March 28th, 2024
A recently released survey* revealed only one in three (34%) American adults has an estate plan. Of those who do have an estate plan, 20% have not updated their plan in the last five years. 72% of women are without an estate plan compared to 59% of m…
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Increased Gift and Estate Tax Exemption Amounts for 2024
February 15th, 2024
The US Internal Revenue Service has announced that the annual gift tax exclusion is increasing in 2024 due to inflation. The exclusion will be $18,000 per recipient for 2024—the highest exclusion amount ever. The annual amount that one may give to…
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The Benefits of a Trust vs. a Will
December 1st, 2023
While a Last Will and Testament will direct your executor how to distribute your property, your executor will be required to go to probate court to collect and distribute your property, opening up your estate to the public eye and making it easier fo…
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Consider A Trust for Your Estate Plan
August 17th, 2023
Estate planning can be a challenge for Illinois residents. People want to share their assets without burdening their loved ones with heavy estate taxes, or the time and expense of going through the probate process. Establishing a trust may offer bene…
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Meet Kevin Barry
For over 30 years, Kevin Barry has provided quality legal representation to clients in the Chicagoland area. Mr. Barry has dedicated his legal practice to all aspects of real estate matters, estate planning, probate estates, guardianships, and busine… Read More
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