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 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, …
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 …
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 …