An employer seeking to provide additional financial support to employees during the COVID-19 pandemic may want to consider a “qualified disaster relief payment” program. Qualifying disaster relief payments are not only tax-free to employees in most…
COVID-19 has caused tremendous disruption and expense for colleges and universities, and other tuition-based education institutions, leading to concerns not only about when students may safely return to campus but even as to the future viability of…
On April 19, 2020, the Centers for Medicare and Medicaid Services (“CMS”) issued recommendations to States for resuming non-emergent, non-COVID-19 health care in areas with “low, or relatively low incidence of COVID-19” that relate to recent…
Many employers that did not previously have a sick time policy or a Family and Medical Leave Act (FMLA) policy are now having to address employee questions and concerns, and also ensure compliance with the Families First Coronavirus Response Act…
On April 9, 2020, the Board of Governors of the Federal Reserve Bank (the “Fed”) announced preliminary details of two new loan programs that have aggregate funding of $600 billion, offered as part of the Coronavirus Aid, Relief, and Economic…
On April 14, 2020, the U.S. Small Business Administration (the “SBA”) issued a second interim final rule (the “Second PPP Interim Final Rule”) related to the Paycheck Protection program (the “PPP”) offered under the Coronavirus Aid, Relief, and…
On April 8, 2020, the IRS issued Rev. Proc. 2020-23 (“RP 20-23”) in response to provisions of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). RP 20-23 allows eligible partnerships to file amended partnership returns for tax…
[Updated April 17, 2020] The IRS posted updated FAQ’s related to temporary procedures permitting refund claims, requested on Form 1045, Application for Tentative Refund, or Form 1139, Corporation Application for Tentative Refund, to be submitted via…
INTRODUCTION
On April 7, 2020, the Board of Governors of the Federal Reserve System (“FRB”), the Federal Deposit Insurance Corporation (“FDIC”), the National Credit Union Administration (“NCUA”), the Office of the Comptroller of the Currency (“OCC”),…
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") to provide economic benefits to small businesses in response to the novel Coronavirus (COVID-19) pandemic. In addition to the widely…
The Families First Coronavirus Response Act (FFCRA) contains two provisions entitling eligible employees to paid leave: (1) the Emergency Paid Sick Leave Act (EPSLA) and (2) the Emergency Family and Medical Leave Expansion Act (EFMLEA). Under both…
In response to the ongoing novel Coronavirus (COVID-19) pandemic, President Trump issued an emergency declaration under the Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. § 5121 et seq.) on March 13, 2020, which instructed the…
