Category: News & Events
Herman L. Talle Retirement
February 15, 2023 | Barna, Guzy & Steffen, Ltd.Attorney Herm Talle is a well-known figure in Anoka County legal fields and has practiced since 1959. Herm joined Barna, Guzy & Steffen, Ltd. during a merger in 1991 with the intention of winding down his practice. That practice continued for another thirty-two years. Herm finally decided to retire on January 31st, 2023. During those final 32 years Herm counseled many young attorneys and taught them how to be good lawyers. Full of history, knowledge and a unique insight on legal practice, Herm routinely made everyone’s day brighter at BGS just by showing up and being part of the team. His stories will be missed dearly, and we wish him all the best in retirement at long last. Congratulations Herm! Well done and well-earned retirement.
Read MoreThe Corporate Transparency Act and How It Impacts Your Business
February 17, 2022 | Georgia Kellogg
Update December 19th, 2024 On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction in Texas Top Cop Shop, Inc., et al. v. Garland, enjoining the federal government from enforcing the Corporate Transparency Act (CTA) and its reporting deadlines. On December 13, 2024, the Department of Justice (DOJ) filed an Emergency Motion for Stay Pending Appeal in the Fifth Circuit requesting an expedited briefing schedule and a ruling “as soon as possible, but in any event no later than December 27, 2024, to ensure that regulated entities can be made aware of their obligation to comply before January 1, 2025.” Reporting companies should continue monitoring developments in the coming days in case the January 1, 2025 deadline for filing is reinstated. In January of 2021, as part of its initiative to crack down on illicit activities commonly associated with shell companies, Congress passed the Corporate Transparency Act (the “CTA”). Under the CTA, entities formed or registered to do business in the United States will be required to report various information concerning beneficial ownership of the company. The Financial Crimes Enforcement Network (“FinCEN”) has been tasked with preparing the regulations that will govern the beneficial ownership reporting requirement and provide the necessary oversight to ensure…
Read MoreSignificant Proposed Changes to Minnesota Veterans Homes Rules
November 17, 2021 | Barna, Guzy & Steffen, Ltd.
By: Cathryn Reher While there has been a great deal of publicity about the ground-breaking ceremonies around the state for additional Minnesota Veterans Homes, far less publicized are the 88 pages of proposed changes to the Minnesota Rules. These proposed changes will impact both veterans and their spouses whether they currently reside, or have future plans to reside, at one of these facilities. The current rules can be viewed at: https://link.edgepilot.com/s/1f367ca5/5mJ1ZMz-4kSkcAQfk_IInA?u=https://www.revisor.mn.gov/rules/9050. You will want to check out the proposed rule changes at: https://link.edgepilot.com/s/71a018ff/xz80iGxVIUKb4jigTsKN0w?u=https://mn.gov/mdva/assets/2021-10-15-rd4384_tcm1066-502928.pdf. From an initial review of the proposed rule changes, many are adverse or more restrictive than under the current rules. If you read the MDVA description of the proposed rule changes, you would have no idea what changes are afoot. For instance, one of the proposed changes will impact a current and future facility resident’s holding a real property interest in the form of a life estate. The change adopts a valuation method for a life estate which could result in as much as a twenty to thirty percent increase in the equity value allocated to a Veterans Home resident. If the life estate were sold, the resident’s maintenance charge would increase until the full value of the interest, along with other available assets, was reduced below $3,000. For any persons holding…
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