ECS ARTICLES & NEWS

Employers have faced ongoing uncertainty in determining overtime eligibility under the Fair Labor Standards Act (FLSA), but that landscape became clearer in May 2026 when the U.S. Department of Labor (DOL) formally rescinded the 2024 overtime rule and reinstated the prior regulatory framework. While this shift simplifies compliance, employers should not assume a “set it and forget it” approach to overtime classification. The now-rescinded 2024 rule would have significantly in

Resolve Past Sales Tax Liabilities—Penalty Free The Illinois Department of Revenue (IDOR) is offering remote retailers a limited-time opportunity to come into compliance and resolve prior sales tax liabilities with a full waiver of penalties and interest. This program applies to businesses that sell to Illinois customers without a physical presence in the state and have unpaid sales tax for the period January 1, 2021 through June 30, 2026, provided they meet the economic nexu

Overview of the 2026 Texas BPP Tax Change Effective January 1, 2026, Texas significantly increased the small business exemption for Business Personal Property (BPP) from $2,500 to $125,000 of market value. This change was designed to provide broad tax relief to businesses across the state. Unlike the previous exemption—which operated as a simple threshold that taxpayers either qualified for or did not—the new exemption applies automatically, reducing every account’s taxable

On May 31, 2026, the Illinois General Assembly approved a Revenue Omnibus bill introducing several significant tax changes affecting businesses, including pass-through entities. The legislation, currently awaiting the Governor’s signature, includes updates that may impact 2026 tax planning, estimated payments, and transaction modeling for taxpayers with Illinois connections. A key change expands the Pass-Through Entity Tax (PTET) election beginning with tax years ending on or

ECS Financial Services has once again earned a place among the Best Places to Work in Illinois, as recognized by Daily Herald Suburban Business. This back-to-back honor confirms what the ECS firm already knows: their workplace culture is something special.

Effective July 1, 2025, sales tax rates are changing in several municipalities across Cook, DuPage, Kane, Lake, and McHenry Counties, as well as other parts of Illinois. If your business is located in—or delivers to—any of the affected areas, now is the time to update your point-of-sale systems and pricing protocols. Action Items: Update cash registers and accounting systems to reflect the new rates. Adjust quotes for orders scheduled for delivery or pickup on or after July 1