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Search OptionsInsightsSBA Forgiveness Application
On Friday, May 15, 2020, the SBA published the Paycheck Protection Program Loan Forgiveness Application (“Application”) and Instructions. To access the Application and instructions please click here. The Application provides much needed guidance on… 
CFPB Provides Flexibility to Financial Institutions When Dealing with Billing Errors, Payment Rules and Deposit Accounts Terms Related to the COVID-19 Pandemic
On May 13, 2020 the Consumer Financial Protection Bureau (the “Bureau”) released a Statement on Supervisory Practices Regarding Regulation Z (the “Statement”) and two FAQs regarding the Bureau’s Payment and Deposits Rule (the “Payments and Deposits… 
Indiana Imposes Requirements on Physician Noncompete Provisions
The Indiana Legislature passed House Bill 1004 which Indiana’s Governor signed into law on March 18, 2020. Section 8 of the Bill creates new law affecting physician noncompete agreements and physician separations and goes into effect on July 1,… 
Force Majeure Considerations for Commercial Leases in Indiana
The concept of force majeure has garnered significant attention due to the social and economic impact of the novel Coronavirus (“COVID-19”) resulting in a reduction of operations or closure of businesses, factories, stores and restaurants across the… 
Coronavirus Relief Fund Program: Reimbursement Eligibility Guidelines for Counties, Cities, and Towns
Under the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), the State of Indiana received a distribution of Coronavirus Relief Funds to be used for certain limited purposes. Three Hundred Million Dollars of these funds are being… 
Exceptions to Indiana's Open Door Law and Access to Public Records Act Set to Expire on May 23, 2020
Beginning March 16, 2020, Indiana Governor Eric Holcomb issued a number of Executive Orders (“Orders”) easing statutory requirements concerning Indiana’s Open Door Law (“ODL”) and Access to Public Records Act (“APRA”) in light of the COVID-19… 
IRS Guidance Increases FSA Carryover Limit, Clarifies Reimbursement of Individual Health Coverage Premiums
Overview On May 12, 2020, the IRS issued Notice 2020-33, which (i) increases the carryover limit for flexible spending arrangements (“FSAs”) to $550, and (ii) clarifies the timing for reimbursement of individual health coverage premiums under certain… 
IRS Provides Flexibility for Cafeteria Plans to Permit Mid-Year Election Changes, Extend FSA and DCAP Claims Periods
Overview On May 12, 2020, the IRS issued guidance in response to the COVID-19 pandemic which provides flexibility during calendar year 2020 for employer-sponsored health coverage, health flexible spending arrangements (“FSAs”), and dependent care… PPP Safe Harbor for Loans Under $2M and Helpful Guidance for Loans $2M+
[UPDATE MAY 13, 2020] - Welcome guidance was issued today by the Small Business Administration (SBA) in the form of FAQ #46 regarding a borrower’s certification of the necessity of a loan under the Paycheck Protection Program (PPP). The guidance… 
DOL and IRS Pandemic Relief for Group Health Plans and Retirement Plans
Overview On April 29, 2020, the U.S. DOL, Treasury Department and the IRS issued deadline relief and other guidance to aid employee benefit plans and plan participants impacted by the COVID-19 pandemic. The guidance extends certain timeframes… 
IRS Releases FAQs on Tax Treatment of Higher Education Emergency Relief Fund and Emergency Financial Aid Grants under CARES Act
On May 8, 2020, the IRS released two new FAQs related to relief provided under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) designed to allow higher education institutions to use certain funds allocated by the Department of… 
Commercial Collection Issues in a COVID-19 Economy
The daily news reminds us of the growing grim economic toll wrought by the COVID-19 pandemic. As discussed in some of our prior Alerts, federal, state and local governments have adopted various measures to moderate some of these effects, including… 
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