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Apr 02, 2020

DOL and IRS Release Guidance on the Families First Coronavirus Response Act

Two important pieces of information were released today on the Families First Coronavirus Response Act (“FFCRA”). The United States Department of Labor issued its regulations on the FFCRA, which provided detailed guidance on how the law should be interpreted. » Read More

Mar 30, 2020

The U.S. DOL Updates Its Guidance on the Families First Coronavirus Response Act Once Again

Over the weekend, the United States Department of Labor issued an additional set of FAQs on the Families First Coronavirus Response Act (FFCRA). The FAQs provide valuable guidance on the interpretation of the FFCRA and should be reviewed by anyone charged with administering the benefits which will be available on April 1, 2020. » Read More

Mar 29, 2020

Inside the CARES Act: Five-Year Carryback for Net Operating Losses and Taxable Income Offset

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) relaxes the limitations on a company’s use of losses. Under the current rules amended by the 2017 Tax Cuts and Jobs Act (“TCJA”), net operating losses (“NOLs”) are subject to a taxable-income limitation and cannot be carried back to reduce income in a prior tax year. » Read More

Mar 29, 2020

Inside the CARES Act: Loan Payment Subsidies for Certain Loans as Part of the CARES Act of 2020

In addition to the expansion of the Small Business Act’s (“SBA”) business loan program and the SBA’s disaster loan program, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) authorizes loan payment subsidies for certain loans. » Read More

Mar 29, 2020

Inside the CARES Act: COVID-19 Loan Forgiveness Relief—a Section 1106 Primer

Section 1106 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act provides loan forgiveness for certain qualifying Small Business Administration (SBA) loans. A “covered loan” is a loan added under new Section 7(a)(36) of the Small Business Act, which was added by the CARES Act itself. » Read More

Mar 27, 2020

More Answers About the FFCRA From the U.S. Department of Labor

The U.S. Department of Labor (USDOL) has supplemented the “Families First Coronavirus Response Act: Questions and Answers,” which addresses some of the practical questions many employers have been challenged with since the enactment of the Families First Coronavirus Response Act (FFCRA). » Read More

Mar 26, 2020

U.S. DOL Issues Guidance and Poster on Families First Coronavirus Response Act; Governor Murphy Expands TDI, FLI, and Sick Leave Benefits in Response to COVID-19

The U.S. Department of Labor has issued guidance, FAQs, and a poster further explaining the benefits and responsibilities under the Families First Coronavirus Response Act, which provides paid sick leave and family leave for employees impacted by COVID-19. This information can be found on the DOL’s website. » Read More

Mar 18, 2020

State and Federal Government Pressed to Meet Unemployment Demands Due to Coronavirus (COVID-19) Pandemic

With the widespread closure of businesses and looming unemployment of thousands, state and federal governments have been scrambling to address this result of the coronavirus pandemic. » Read More