On April 9, 2020, New Jersey Governor Phil Murphy issued Executive Order 123, providing immediate relief to policyholders of property and casualty, life, health and dental insurance for nonpayment of premiums due to the COVID-19 pandemic. The Executive Order and the ensuing directives from Continue Reading
IRS Extends More Tax Deadlines in Notice 2020-23
On April 9, 2020, the Internal Revenue Service (“IRS”) released Notice 2020-23, amplifying the coronavirus-related tax relief recently provided in Notices 2020-18 and 2020-20. Notice 2020-23 automatically postpones (without the need to file for any extension) each of the following Continue Reading
Nonqualified Deferred Compensation Plan Sponsors: COVID-19 Pandemic Considerations
This Alert discusses certain considerations for employers that sponsor nonqualified deferred compensation plans, in light of business/market conditions and employee needs resulting from the COVID-19 pandemic, with a particular emphasis on the strict requirements of IRC § 409A. Unintended 409A Continue Reading
DFARS Final Rule Establishes Goal of 15-Day Accelerated Payments for Small Business Contractors
Leave in the Time of COVID-19: Tracking Employee Leave under the FFCRA and the FMLA
Since 1993, the federal Family and Medical Leave Act (FMLA) has provided job protection to eligible employees who need to take time away from work for specific reasons related to their own health, to care for ill family members, or in connection with the birth and care of the employee’s newborn Continue Reading
Your Small Business May Be Eligible to Supplement Its Paycheck Protection Program Loan with an SBA Economic Injury Disaster Loan
The Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) expanded the existing Economic Injury Disaster Loan program (“EIDL”) by streamlining the application process and providing lower interest rates and longer repayment terms. The EIDL provides working capital directly from the U.S. Continue Reading
New Jersey Offers Grace Period for Insurance Premium Payments
On April 9, 2020, New Jersey Governor Phil Murphy issued Executive Order 123, providing immediate relief to policyholders of property and casualty, life, health, and dental insurance for nonpayment of premiums due to the COVID-19 pandemic. The Executive Order and the ensuing directives from the Continue Reading
U.S. Immigration and Employment Interruption Guidelines
COVID-19 has erased a decade of job growth in less than one month. The pandemic has halted most economic endeavors not only in the United States but throughout most of the world. On a macro level, there is an extraordinary impact on both supply (barriers to production caused by shelter-in-place Continue Reading
Mid-sized Businesses May Be Eligible to Participate in the Main Street New Loan Facility and the Main Street Expanded Loan Facility
In addition to the programs established and the powers granted as part of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), the Treasury Department and Federal Reserve Board of Governors are leveraging the existing powers of the Federal Reserve under Section 13(3) of the Continue Reading
Six States Consider Extending Business Interruption Coverage to Coronavirus Claims
Lawmakers in New Jersey, New York, Massachusetts, Ohio, Pennsylvania, and Louisiana have proposed legislation clarifying that property policies’ business interruption coverage extends to losses attributable to the coronavirus pandemic and social distancing. These bills allow policyholders to avoid Continue Reading