Sign Up

Another new law for Illinois landlords

Mar 14, 2024

Hate to ruin your day, but here it goes:

Uncle Sam's got a new trick up his sleeve.

Here's the scoop:

Got an LLC for your property?

Ah, you thought you were slick, didn't you?

Dodging those personal liability bullets like Neo in "The Matrix."

Well, hold onto your hats.

There's a new form you gotta file.

It applies to *most* small businesses.

Including companies holding rental property.

Here's the deal:

You must file this report if you hold rental property in an LLC or corporation.

Please tell us you don't hold real estate in a corp...

And this isn't your run-of-the-mill "I'll do it later" task.

If you have better things to do with your time, we can help.

Uncle Sam's waiting, and he's not known for patience.

By Landlord Legal

Paperwork party, anyone? That's issue #101 of The Brief.

Last week, an Alabama judge basically said, "Get lost, kid" and ruled it unconstitutional.  But for now, it's still law.