The IRS has issued new guidance on its phased rollout of 1099-K reporting requirements, impacting millions of users of platforms like PayPal, Venmo, Etsy, and eBay. These updates build on the IRS’s December 2023 announcement, where it delayed the implementation of a $600 reporting threshold due to concerns over taxpayer confusion and administrative burdens. As […]
Attorneys Christina Ruud and Cate Heerey, both experienced Milwaukee attorneys, have joined O’Neil Cannon. Ruud is a member of the firm’s Business and Real Estate Groups. She concentrates her practice in commercial real estate with an emphasis on all aspects of acquisition and disposition transactions, real estate development and financing, and complex commercial leasing. Ruud […]
Attorneys Brady Dettmann and Mark Hamilton Jr., both graduates of Marquette University Law School, have joined O’Neil Cannon’s Business Law Practice Group. Dettmann has experience in mergers and acquisitions, corporate and partnership taxation, non-profit organizations, and general corporate matters. While in law school, Dettmann worked as a judicial intern for Justice Hagedorn of the Wisconsin […]
The U.S. Fifth Circuit Court of Appeals reinstated a nationwide injunction on the reporting of beneficial ownership information under the Corporate Transparency Act. The injunction issued by a Texas federal court in early December had been overturned last week by a different Fifth Circuit panel. For now, reporting companies are (again) no longer required to […]
On December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit stayed a preliminary injunction of the Corporate Transparency Act. As a result, the U.S. federal government is again able to enforce the CTA, which includes the reporting of beneficial ownership information. Shortly after the Fifth Circuit issued the stay, the U.S. Financial […]
In the spirit of the holiday season, the attorneys and staff at O’Neil Cannon once again held a holiday donation drive. This year, the firm collected items and monetary donations for Milwaukee Habitat for Humanity. Habitat for Humanity is a global nonprofit housing organization working in local communities across all 50 states in the U.S. […]
Beginning January 1, 2025, Wisconsin will implement a new excise tax on electric vehicle (EV) charging stations under 2023 Wisconsin Act 121. If your business owns, operates, manages, or leases EV charging stations, here’s what you should know: Who Must Register: Any business delivering electricity through EV charging stations must register with the Wisconsin Department […]
Making good use of the recent office renovations at O’Neil Cannon, the firm organized a pool tournament for its employees to break in the pool table in the new café on our upper floor. All 28 participants fought through group play, with the top 14 moving on to a single-elimination round. Litigation attorney Dean Laing […]
On December 3, 2024, the U.S. District Court for the Eastern District of Texas granted a preliminary, nationwide injunction enjoining the United States federal government from enforcing the Corporate Transparency Act (“CTA”), which includes the reporting of beneficial ownership information (“BOI Report”) to the U.S. Federal Crimes Enforcement Network (“FinCEN”). The court’s reasoning revolved around […]
