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Archive for the ‘Articles’ Category

New SBA Payroll Protection Program under the CARES Act

Dean Mead Attorney Denise D. Dell-Powell
Published: April 2nd, 2020

By: Denise D. Dell-Powell

Relief for Small Business and Non-Profits A well-known part of the CARES Act is the Payroll Protection Program (PPP), which establishes a new SBA loan that can be forgiven if done properly.  Generally, businesses with less than 500 employees are eligible, also certain businesses with less than 500 employees per location – no collateral or […]

Posted in Articles, Tax Law Blog, COVID-19 Resource Portal

Force Majeure: COVID-19 and a Look Back at the Great Influenza of 1918 – Part Two

Published: March 31st, 2020

By: Thomas P. Wert

COVID-19 and Force Majeure Today My colleague Gabe was waiting for an answer from me as to whether his commercial tenant could legally stop paying rent during the COVID-19 crisis under a force majeure theory.  I told him the force majeure analysis today generally would not be much different than during the Great Influenza of […]

Posted in Articles, Real Estate Blog, COVID-19 Resource Portal

Force Majeure: COVID-19 and a Look Back at the Great Influenza of 1918 – Part One

Published: March 30th, 2020

By: Thomas P. Wert

About a half an hour after Orange County, Florida issued Emergency Executive Order No. 2020-04, shuttering all non-essential businesses in Central Florida, my colleague Gabe sent me a text, “My commercial tenant just served me with a force majeure notice!  Can he do that?”  Apparently, Gabe’s tenant is attempting to be excused from the payment […]

Posted in Articles, COVID-19 Resource Portal

It’s Official! (Part II) – Tax Day For Gift Tax Returns is Now July 15, 2020

Published: March 27th, 2020

By: Brad Gould

Today, the IRS released Notice 2020-20 amplifying the relief provided in Notice 2020-18 by postponing to July 15, 2020 the due day to file a Form 709 (United States Gift and Generation-Skipping Transfer Tax Return) or pay Federal gift tax or generation-skipping transfer tax that was due on April 15, 2020.  This brings conformity to […]

Posted in Articles, Tax Law Blog, Trusts and Estates Blog

CARES: Frequently Asked Questions

Dean Mead Attorney Denise D. Dell-Powell
Published: March 27th, 2020

By: Dennis G. Corrick Denise D. Dell-Powell

How will loan forgiveness work? The loan will be made by a bank, and after June 30 (or later if the federal government extends the covered period), the borrower will submit a request and documentation of the covered payroll costs, mortgage and/or rent payments and utilities.  The bank must consider and respond to the request […]

Posted in Articles

Updated – Families First Coronavirus Response Act Passed: What Employers Need To Know

Published: March 26th, 2020

By: Nichole M. Mooney

On March 18, 2020, Congress passed the Families First Coronavirus Response Act (the FFCRA). The Department of Labor has clarified the effective to be April 1, 2020. This is one of several relief acts addressing relief due to the Coronavirus Pandemic. [1] For employers and employees, three provisions of the FFCRA have immediate impact. Division […]

Posted in Articles

CARES Act

Published: March 26th, 2020

By: Dennis G. Corrick

Late Wednesday night, the U.S. Senate unanimously approved HB 748, the Coronavirus Aid, Relief and Economic Security Act (CARES). The U.S. House of Representatives is expected to promptly approve it, and the President has publicly indicated that he will sign it. This analysis assumes that it will proceed through both of those steps unchanged. CARES […]

Posted in Articles, Real Estate Blog

Congress Passes Coronavirus Stimulus Bill

Published: March 26th, 2020

By: Dana M. Apfelbaum Joseph “Jay” Van Heyde II Brad Gould Jane Dunlap Callahan Stephen R. Looney

Late last night the Senate passed the Coronavirus Aid, Relief, and Economic Security Act (CARES).  The House of Representatives is scheduled to pass CARES tomorrow and the President has publicly stated he will sign it.  CARES will be the second stimulus package from the federal government addressing economic impact wrought by the coronavirus (COVID-19) pandemic. […]

Posted in Articles, Tax Law Blog