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 …
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 …
FED Main Street Lending Program; Financing for Small and Mid-Sized Businesses Read More »
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 …
IRS Extends Deadlines For 1031 Exchanges And Opportunity Zone Investments Read More »
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 …
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 …
CORONA VIRUS STIMULUS PAYMENTS ARE COMING, BUT WHEN? Read More »
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 …
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 …
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 …
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 …
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 …
Economic Injury Disaster Loans (EIDL) For Businesses Impacted By The Coronavirus Read More »