Avoiding Taxes on Phantom Income

Posted on July 14, 2025 by Marybeth Stanziola

 To streamline Chapter 11 bankruptcy filings, the Small Business Reorganization Act of 2019 created a new subchapter of Chapter 11 specifically geared toward small businesses: Subchapter V. As John W. Ryan notes in July Illinois Bar Journal article, “Avoiding Taxes on Phantom Income,” Subchapter V can be easier, cheaper, and quicker for small businesses. But it has some potential—and probably unintended—drawbacks.

ISBA and WBAI to Team Up for Race Judicata

Posted on July 14, 2025 by Marybeth Stanziola

The Illinois State Bar Association and Women’s Bar Association of Illinois are teaming up for two times the fun at Chicago Volunteer Legal Services (CVLS) 29th annual Race Judicata Sprint for Justice 5K Run/Walk/Party. This year's event takes place on Thursday, August 14, 2025, at 6:30 p.m. in Chicago’s Lincoln Park, 1746 N Stockton Drive.

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From: 
WLDS

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From: 
25 News Now

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From: 
Chicago Tribune

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WGLT

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Illinois Business Journal

A new compliance audit shows the Illinois Department of Commerce and Economic Opportunity missed the mark on multiple provisions of the law moving Illinois toward 100% clean energy by 2050.

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WAND

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From: 
The National Law Review