Covid 19 Legal Advisory
U.S. Immigration Ban 2.0
On June 22, 2020, President Donald Trump signed a “Proclamation Suspending Entry of Aliens Who Present a Risk to the U.S. Labor Market Following the Coronavirus Outbreak.” The immigration restrictions put in place in April are further extended until the end of the year and the new proclamation imposes additional and significant restrictions on the …
New York Forward Loan Fund Starts Today!
New York State announced its own initial $100 million New York Forward Loan Fund (NYFLF). This new economic recovery loan program is aimed at supporting New York State small businesses, nonprofits and small landlords as they reopen after the COVID-19 outbreak. NYFLF targets the state’s small businesses with 20 or fewer full-time equivalent (FTE) employees, …
Paycheck Protection Program Loan Forgiveness
Time flies during a shutdown. While some are still hesitating to apply or wait to receive funds provided under the paycheck protection program, for some it is time to prepare applications for forgiveness. To that end, on May 15, 2020, U.S. Department of the Treasury issued the Paycheck Protection Program Loan Forgiveness Application. The Loan …
U.S. IMMIGRATION SUSPENDED
After an announcement on twitter on April 20, 2020, President Trump signed an Executive Order, aimed to suspend and limit immigration into the United States on a temporary bases, during the COVID-19 outbreak to protect U.S. citizens and preserve jobs for American workers. The temporary suspension will take effect on April 23, 2020. According to …
FED Main Street Lending Program; Financing for Small and Mid-Sized Businesses
Covid-19 created a chaos and among other problems, liquidity issues for many businesses. Until now, the available Covid-19 relief programs aimed to aid either large companies or small businesses, leaving midsize companies, not qualified for the current loan structures, in a limbo without federal assistance. On April 9, 2020, the Federal Reserve announced the details …
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IRS Extends Deadlines For 1031 Exchanges And Opportunity Zone Investments
On April 9, 2020, the IRS issued Notice 2020-23 providing additional short term relief for taxpayers affected by the COVID-19 Pandemic. The IRS notice states that it provides “additional time to perform certain time-sensitive actions” that includes granting deadline relief for both 1031 like-kind exchanges and opportunity zone investments that are already underway. With the …
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New York Insurance Relief
On March 29, 2020, Governor Andrew M. Cuomo issued Executive Order 202.13, which, among other things, temporarily suspended or modified certain sections of the Insurance Law and Workers’ Compensation Law to provide temporary insurance relief for those effected by the COVID-19 pandemic. Regulations will be issued in the near future allowing consumers and small businesses …
CORONA VIRUS STIMULUS PAYMENTS ARE COMING, BUT WHEN?
Many Americans are waiting to see when the promised economic impact payments (corona virus stimulus payments) are going to reach individuals and families to ease the effects of the COVID-19 pandemic. On March 30, 2020, the Treasury Department and the Internal Revenue Service announced that distribution of economic impact payments will begin in the next …
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Remote Online Notary To The Rescue
New York State Governor Andrew Cuomo signed Executive Order 202.7 authorizing remote online notarization (RON) in the state through April 18, 2020. RON is a welcome addition in our online toolbox that would certainly come handy to allow numerous matters to continue in this tumultuous period. The use of this technology provides great help in …
TAX DAY IS EXTENDED TO JULY 15!
On March 21, 2020, the Treasury Department and Internal Revenue Service announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the …
COVID-19 And The Real Estate Closing
I think we can all agree that the real estate industry was not spared from the devastating impact of the coronavirus (COVID-19) pandemic. Buyers, sellers, developers, brokers, lenders, title companies are all effected by the current and constantly evolving health, social and economic turn of events. Since New York State has mandated that all non-essential …
Paycheck Protection Program Under the CARES Act
The CARES Act (the “Act”), signed into law on March 27, is a wide-sweeping stimulus package, estimated at $2.2 trillion, that provides small businesses and nonprofits almost $350 billion in partially forgivable loans, as well as $500 billion in support for hard-hit industries and a ban on corporate stock buybacks. Perhaps the most important aspect …
Economic Injury Disaster Loans (EIDL) For Businesses Impacted By The Coronavirus
As of Friday, March 13, 2020, President Trump declared a national emergency to combat the Coronavirus (COVID-19). Businesses across the United States are suffering tragic losses due to the pandemic and the drastic measures implemented to combat the spread of the virus. Since a state of emergency has been announced, businesses may qualify for assistance …
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USCIS Announces Flexibility in Submitting Required Signatures
U.S. Citizenship and Immigration Services announced that, due to the ongoing COVID-19 National Emergency announced by President Trump on March 13, 2020, USCIS will accept all benefit forms and documents with reproduced original signatures, for submissions dated March 21, 2020, and beyond. USCIS already accepts various petitions, applications and other documents bearing an electronically reproduced …
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USCIS Deadline Extension
Finally, a much needed and welcomed new policy change that will benefit the public. In general, when the U.S Citizenship and Immigration Services (USCIS) issues a Request for Evidence (RFE), an applicant or petitioner is given 90 days in which to submit a response and for Notices of Intent to Deny (NOID), the response period …
U.S. Consular Operations Suspended Due to COVID-19
On March 20, 2020, the U.S. Department of State (USDOS) announced that due to the spread of the coronavirus, USDOS is suspending routine visa processing at all U.S. Embassies and Consulates worldwide until further notice. The notice further stated as of March 20, 2020, embassies and consulates cancel all routine immigrant and nonimmigrant visa appointments. …
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U.S. Citizenship and Immigration Services Office Closures due to Covid-19
The Covid-19 pandemic has impacted nearly every aspect of immigration policies and procedures effecting the lives of many families, individuals and businesses. On March 18, U.S. Citizenship and Immigration Services (USCIS) temporarily suspended routine in-person services and according to the official communication, USCIS plans to begin reopening its offices on May 4, unless the public …
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