The closure orders issued by federal and state government authorities across the United States have resulted in the reduction and loss of income for a significant percentage of the U.S. workforce. On March 18, 2020, President Trump signed into law the Families First Coronavirus Report Act (the “Coronavirus Act”), effective April 2, 2020, providing relief for certain eligible families, employers and businesses. Further legislation is on the horizon. Meanwhile, under existing law, the Internal Revenue Code of 1986, as amended (the “Code”) permits employers to provide some immediate and direct employee assistance on a tax-favored basis.
Monthly Archives: March 2020
The IRS has announced that taxpayers will be allowed to defer until July 15, 2020 the filing of their federal income tax returns and the payment of their federal income taxes that were otherwise due on April 15, 2020. The new due date is July 15, 2020. READ MORE
The IRS has issued guidance allowing for additional time to pay 2019 federal income taxes and 2020 first quarter estimated taxes up to certain amounts. States have begun to follow suit with some following the federal government and others taking different approaches. READ MORE
As the coronavirus and it’s economic impact continue spreading across the nation, employers are dealing with a variety of unprecedented issues in regards to their business operations, including employee benefits plans. Many employers are concerned about continuing healthcare coverage for employees who are furloughed or laid off during this time. READ MORE
A force majeure (or Act of God) clause in a lease limits or eliminates liability for “an event or effect that can be neither anticipated nor controlled.” Does the coronavirus trigger the force majeure clause in your lease, and thereby offer protection from liability to both landlords and tenants? READ MORE
Illinois Governor JB Pritzker has issued a “shelter-in-place” order, which requires citizens of Illinois “to stay at home or at their place of residence except as allowed in this Executive Order” through April 7, 2020. The executive order creates exceptions to the stay at home requirement which generally fall into three categories: essential activities, essential government functions, and to operate essential businesses and operations. READ MORE
The negative affects caused by COVID-19 have forced small business owners to temporarily close without any clear indication on when they may open again. These closures have caused unprecedented revenue loss and economic instability. In an effort to mitigate the economic damage caused by COVID-19, several federal and state level financial relief programs have been activated to support small business owners. READ MORE
Starting on Monday, March 23 at 11:59 p.m. all individuals in Ohio are required to stay in their homes and all non-essential businesses are required to shut their doors until at least April 6, 2020. Learn what activities are prohibited and find out whether or not your business qualifies as an “essential business or operation.” READ MORE
TGS Baltic offers up-to-date information on the availability of Covid-19 crisis mitigation measures and the newest regulatory changes.
In accordance with Cabinet Order No. 119 of 24 March 2020, which amends Cabinet Order No. 103 On the Declaration of Emergency Situation of 12 March 2020, new restrictions take place:
On March 19, 2020, the Substance Abuse and Mental Health Services Administration (SAMHSA) issued guidance on disclosure of substance use disorder (SUD) information during the COVID-19 pandemic national emergency period. READ MORE