On March 25, 2020, the Internal Revenue Service (the “IRS”) released the People First Initiative as part of its ongoing effort to provide relief to taxpayers impacted by COVID-19. The People First Initiative grants taxpayers further relief in addition to recently issued provisions extending certain Continue Reading
SBA’s Paycheck Protection Program and Other SBA Relief for Small Businesses Provided in CARES Act
On Friday, March 27, 2020, the President signed into law The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which provides up to $2 trillion to address the severe economic dislocation caused by the coronavirus (“COVID-19”). This alert addresses a portion of the CARES Act whose Continue Reading
Employee Benefits Provisions of the CARES Act
CARES Act Provides Employee Benefit Plan Relief to Help Employers and Employees Affected by COVID-19 Pandemic Key employee benefit plan-related provisions of the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) include: Temporary changes for retirement plans: including waiver Continue Reading
Negotiating Purchase and Sale Agreements During the COVID-19 Pandemic
With the COVID-19 pandemic requiring ever-evolving responses from government and businesses, the commercial real estate sector is also navigating new challenges in advancing various interests. For purchase and sale agreements, for example, parties can rely on protections available at certain stages Continue Reading
Massive Stimulus Package Provides Numerous Avenues of Relief for Businesses
The CARES Act May Pay Your Workers for You Title I – Keeping American Workers Paid and Employed ActTitle II – Assistance for American Workers, Families and Businesses As the COVID-19 pandemic and the response to it continue to disrupt normal economic activity, many employers are facing Continue Reading
THE PIRATES OF PRECEDENCE, or How a Modest Copyright Case Could Affect Controversial Supreme Court Cases
I am the very model of a federal court litigant, I’ve videos of sunken pirate ship and copyright certificate. North Carolina copied, causing harm not insignificant, So I sued it for copyright infringe-a-ment. The trial court declared my case was oh so legitimate, But the state said it’s immune under Continue Reading
NY Regulated Banks, Mortgage Servicers Must Provide 90 Day Forbearance to Impacted Borrowers, Issue Procedures by April 7
On March 21, 2020, New York Governor Andrew M. Cuomo issued Executive Order No. 202.9 (EO 202.9) temporarily modifying state banking law to grant the superintendent of the New York Department of Financial Services (DFS) authority to issue emergency regulations to ensure that regulated entities—such Continue Reading
Deferral of State Income Tax Filings and Payments
A number of states have extended filing and payment deadlines. The following is a summary of the status of extensions for states within the McCarter & English footprint: Connecticut The Connecticut Department of Revenue Services extended the filing and payment deadlines for 2020 Continue Reading
The Federal Circuit Modifies Its Operations in View of Public Health Emergencies
In light of the declared public health emergencies relating to COVID-19, the U.S. Court of Appeals for the Federal Circuit issued a series of administrative orders and announcements that are meant to facilitate the continuation of court operations while minimizing public health and safety risks. Continue Reading
Pennsylvania Issues State Emergency Order Requiring All Business And Organizations That Are Not “Life Sustaining” to Close Physical Workplaces and Facilities
On Thursday, March 19, Pennsylvania Governor Tom Wolf issued an “Order Regarding The Closure Of All Businesses That Are Not Life Sustaining” (Order). The Order clarifies what businesses are deemed essential and non-essential (discussed in the Guide, described below). It also issues a Stay At Home Continue Reading