The Bottom Line Employers must take action now to provide appropriate oversight of their retirement plans, both in reaction to recent legislation and extreme stock market volatility due to COVID-19. This is especially true for those employers that have needed to reduce their active Continue Reading
Health and Welfare Considerations for Plan Sponsors Amid the COVID-19 Pandemic
The Bottom Line As employers make changes to their workforces in response to COVID-19, particularly in light of recent legislation under the Families First Coronavirus Response Act (FFCRA) and the recently passed Coronavirus Aid, Relief, and Economic Security Act (CARES Act), employers should Continue Reading
Coronavirus Aid, Relief and Economic Security Act: What You Need to Know
Update Since this alert was first published there have been updates to the Paycheck Protection Program addressing what the new program covers and how small businesses can participate. To review the latest information, please consult our COVID-19 Paycheck Protection Program Updates FAQs. The Continue Reading
Tax Provisions Contained in the CARES Act
The Bottom Line The CARES Act offers a number of tax benefits for both individuals and businesses with the aim to enhance taxpayer cash flow for 2020.Both classes of taxpayers need to pay close attention to these tax provisions as a number of them will have an immediate impact on both personal and Continue Reading
COVID-19: A Guide to Analyzing Risks for Marketers and Agencies
The Bottom Line The global effects of COVID-19 are being felt by businesses in every sector, and the worlds of marketing, communications, public relations and advertising are no different. In vast swaths of the United States, including critical markets such as New York, Los Angeles and Continue Reading
IRS Defers Tax Payment and Filing Obligations Due to the Coronavirus Pandemic
The Bottom Line The Internal Revenue Service (IRS) has deferred both income tax payments and income tax filings to July 15, 2020 due to the COVID-19 pandemic, pushing the deadline three months later than the standard April 15, 2020 deadline. The full Notice 2020-18 (Notice) can be viewed Continue Reading
U.S. Federal Government Proposes Various Changes to SBA Loan Programs to Assist Small Businesses Affected by Coronavirus
The Bottom Line In light of the economic impact of the COVID-19 pandemic, the federal government has taken steps to expand the availability of, and streamline the process for, obtaining loans administered by the U.S. Small Business Administration (SBA). In addition, further changes are expected Continue Reading
New York State Implements Sick Leave for Employees Required to Quarantine or Self-Isolate By Government Order
The Bottom Line On March 18, 2020 the New York State Legislature passed, and Governor Cuomo signed into law, a mandatory sick leave law benefitting many employees in New York State affected by the COVID-19 crisis. New York’s new law sets forth minimum requirements for employers to provide Continue Reading
New York City to Provide Financial Assistance to Small Businesses Impacted by COVID-19
The Bottom Line New York City (NYC) has recently made available two financial assistance programs to aid small businesses located in the five boroughs. NYC Mayor Bill de Blasio announced on March 8, 2020 that NYC will offer access to the NYC Employee Retention Grant Program (ERGP) and the Continue Reading
Second Modifications to CCPA Draft Regulations
The Bottom Line A third version of the California Consumer Privacy Act (CCPA) draft regulations were released by the California Attorney General’s (AG) office last week. The AG’s office revised the draft regulations again after reviewing an estimated 100 comments it received in Continue Reading