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Legal
Legal considerations for business finance and accounting compliance
Indiana Repealed Its Youth Employment System: What HB 1302 Means for Employers Who Hire Teens
On July 1, 2026, Indiana's HB 1302 decommissioned the Youth Employment System (YES) database, ending registration and self-reporting for employers with five or more minor employees — but hour caps for 14- and 15-year-olds, hazardous occupation bans, federal FLSA rules, and escalating state penalties all remain in force, making internal recordkeeping the employer's sole audit trail.
How to Get the IRS to Answer You in Writing: Private Letter Rulings and Determination Letters for Small Businesses
Oral advice from the IRS is not binding — a private letter ruling is. Under Revenue Procedure 2026-1, 9100 relief for a missed tax election generally costs about $14,500, with reduced tiers near $3,450 and $9,775 for smaller organizations, and the IRS must make contact within 21 days of a complete request. Here's when a ruling is worth the fee, what the request must contain, and the no-fee alternatives — Form SS-8, Form 3115, and Rev. Proc. 2013-30 — that cover most common cases.
Louisiana's Act 751 Bans Debit Card Surcharges — Which Were Already Illegal. Here's Why Retailers Should Still Worry
Louisiana's Act 751 takes effect August 1, 2026, adding state enforcement — cardholder notice letters, a 30-day refund cure window, and civil penalties up to $500 per violation — to a debit card surcharge ban that federal law and card network rules already imposed nationwide. Here's what retailers should check in their POS systems, and how to book any refunds cleanly.
When a Charity Becomes a Coffee Shop: The Operational Test Lessons of Milk Saving Starving Children Foundation v. Commissioner
In T.C. Memo. 2026-1, the Tax Court upheld the IRS's revocation of a Pennsylvania charity's 501(c)(3) status after it ran a cash-only café and rented storefronts while spending $0 of its $26,447 in 2018 income on its stated mission of feeding starving children. Here's how the operational test works — and a self-audit checklist to keep your nonprofit's books mission-honest.
Ninth Circuit Blocks FinCEN's $200 Cash-Reporting Order: What the Border GTO Ruling Means for Money Services Businesses
On July 14, 2026, the Ninth Circuit upheld an injunction blocking FinCEN's border Geographic Targeting Order, which required money services businesses in ~30 ZIP codes to file Currency Transaction Reports for cash transactions as low as $200 — 50 times below the normal $10,000 threshold. The court found FinCEN likely violated the APA by skipping notice-and-comment rulemaking and ignoring compliance costs.
The Robinson-Patman Act Is Back: What a Wine Distributor's Antitrust Fight Means for Every Small Retailer
The FTC's December 2024 Robinson-Patman suit against Southern Glazer's — the first in decades to survive a motion to dismiss — revives a 1936 law barring suppliers from charging small retailers more than big chains for identical goods. What the Act covers, its cost-justification defenses, and the purchase records independent retailers should keep now.
The Section 122 Import Surcharge Expires July 24, 2026 — What Small Importers Should Do With the Week Left
The 10% Section 122 import surcharge expires automatically on July 24, 2026, when its 150-day statutory limit runs out — but expiration is not a refund, and Section 301 and Section 232 tariffs are already queued to replace it. Here's how small importers should tally what they paid, preserve refund rights, and model landed costs before the deadline.
Thermal Circuits v. Commissioner: When a Customer Pays for Your Factory Expansion, Is It Taxable Income?
In Thermal Circuits, Inc. v. Commissioner (T.C. Memo. 2026-29), the Tax Court held that $4.3 million a customer paid to fund a supplier's factory buildout was taxable compensation, not a Section 118 capital contribution — because the supplier, not the customer, owned the improvements. What the ruling means for contract manufacturers, franchisees, and tenants, and how to structure a customer-funded expansion correctly.
USDA's "Product of USA" Label Rule Is Now Enforceable: What Small Meat, Poultry, and Egg Sellers Must Document
Since January 1, 2026, USDA's FSIS requires any "Product of USA" claim on meat, poultry, or eggs to mean born, raised, slaughtered, and processed in the U.S. — and sellers must produce origin, traceability, and attestation records within 24 hours of an inspector's request.
Virginia's SB 170: No Severance, No Noncompete — What Employers Must Do Before July 1, 2026
Virginia's SB 170, signed April 13, 2026 and effective July 1, 2026, makes noncompetes unenforceable when an employee is terminated without cause and receives no severance — for every income level, with penalties up to $10,000 per violation. Here's what employers must change in agreements, budgets, and books.
AI Training Is Fair Use, But Piracy Isn't: What Two Landmark Copyright Rulings Mean for Your Business
Bartz v. Anthropic ended in a $1.5 billion settlement — roughly $3,000 per pirated book — while holding that AI training on lawfully acquired books is fair use; Thomson Reuters v. Ross Intelligence went the other way. Here's what both rulings mean for small businesses using AI tools, plus a contract due-diligence checklist.
Can You Reclassify an Exempt Professional as Non-Exempt? DOL Opinion Letter FLSA2026-1 Says Yes
DOL Opinion Letter FLSA2026-1 (January 5, 2026) confirms employers may voluntarily classify an overtime-exempt learned professional as non-exempt, because non-exempt status is the FLSA default. Here's what the letter says, the three-prong exemption test under 29 CFR § 541.301, and a practical reclassification checklist for small businesses.