Tag Archives: CARES Act

Client Alert: Payment Protection Program Grants May Result in Unexpected Taxable Income

The Paycheck Protection Program (“PPP”) enacted through the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136) is the government relief program that provided loans to small businesses to cover payroll, rent or mortgage payments and utilities. The loan may be forgiven under certain prescribed circumstances. The issue for recipients now is how to account for the funds. There ... Read More

Client Alert: Sorting Through The Various COVID-19 Relief Programs and Conflicting Guidance on Loan Forgiveness

Small businesses and charities may be sorting through the various programs recently enacted and signed into law, trying to figure out which one is best. While each business or charity is unique and no one option is best for all, bets can be hedged and more than one program may be utilized. The Paycheck Protection Program (“PPP”) enacted through the ... Read More

National Survey of COVID-19 Medical Malpractice Immunity Legislation (as of April 15, 2020)

The below survey of federal and state legislation, guidance, and executive action provides information regarding enacted and proposed legislation and executive orders issued to provide immunity protections for liability, in certain respects, to health care professionals, facilities, and volunteers in the course of their treatment of individuals during the course of the COVID-19 pandemic and the declared national and state ... Read More

Client Alert: Additional Help For Individuals From The Tax Code

The COVID-19 pandemic was designated under the Stafford Act as a national emergency on March 13, 2020. By doing so, the federal government opened a new area for tax-free help to those impacted directly by the disease, or indirectly due to the shelter-in-place directives. Section 139, enacted after 9/11, allows employers, or really anyone so inclined, to provide “qualified disaster relief ... Read More

Client Alert: The Families First Act, the CARES Act, and IRS Guidance for Employers

The Families First Coronavirus Response Act (FAMILIES FIRST ACT), Public Law No. 116-127 (March 18, 2020), and the Coronavirus Aid, Relief, and Economic Security Act (CARES ACT), Public Law No. 116-136 (March 27, 2020) provide relief to employees and employers (including nonprofits) during this pandemic. The relief provided by the FAMILIES FIRST ACT is in the form of additional paid ... Read More