On April 23, 2020, the Small Business Administration (“SBA”) issued further guidance on the Paycheck Protection Program (“PPP”) by supplementing its Frequently Asked Questions (“FAQ”). The supplement addresses one new important issue: whether businesses owned by large companies with adequate Continue Reading
Immigration Suspension Has Questionable Impact
On April 22, 2020, President Trump signed a proclamation temporarily suspending the immigration of certain immigrants who present a “risk” to the U.S. labor market during the COVID-19 outbreak. In sum and substance, the edict has little impact on the vast majority of immigrants, their Continue Reading
New Developments on PPP Lending
On April 16, 2020, the Small Business Administration (SBA), less than two weeks after the activation of its Paycheck Protection Program (PPP), announced that funds for PPP loans had been completely depleted. An additional $310 billion is expected to be authorized by pending legislation by the end of Continue Reading
Supreme Court Provides Patent Office Greater Freedom in Its Inter Partes Review Decisions
The Supreme Court recently held that a Patent Trial and Appeal Board (PTAB) determination on whether a petition for an inter partes review (IPR) was filed on time is not appealable. The relevant provision of patent law precludes institution of IPRs when the petition for that review is filed Continue Reading
IRS and PBGC Issue Relief Extending Certain Employee Benefit Plan Deadlines Due to COVID-19 Pandemic
IRS Deadlines On April 9, 2020, the IRS released Notice 2020-23, which postpones (automatically, without the need for the taxpayer to file for an extension) numerous federal tax deadlines until July 15, 2020, provided that the deadline otherwise would have occurred on or after April 1, 2020, and Continue Reading
MA Establishes Moratorium on Evictions, Foreclosures During COVID-19 Emergency
With economic and other hardships mounting as a result of the COVID-19 pandemic, Governor Charlie Baker signed into law on April 21, 2020, a bill providing for a moratorium on certain evictions and foreclosures during the COVID-19 state of emergency (H.4647). The law covers the period from the Continue Reading
IRS Issues Guidance on Key Business Tax Provisions of CARES Act
As expected, the Internal Revenue Service (“IRS”) has begun to address some of the details left open by the business tax provisions of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). This Alert summarizes several pieces of important guidance issued by the IRS during the Continue Reading
Remote Notarizations Temporarily Authorized in New Jersey During Coronavirus Pandemic
On April 14, 2020, New Jersey Governor Phil Murphy signed into law a bill that allows a notary public or other officer authorized to take oaths, affirmations, affidavits and acknowledgments in the State of New Jersey (e.g., county clerks and attorneys-at-law licensed in the State of New Jersey) to Continue Reading
Pennsylvania Senate Issues Bill That, If Passed, Will Require Insurers to Provide Broad Coverage for COVID-19-related Business Interruption Claims
The Pennsylvania Senate has joined the ranks of other states’ lawmakers, as well as Pennsylvania’s House of Representatives, in proposing broad legislation that would assist policyholders that are suffering from the major economic upset stemming from COVID-19. In what is by far the broadest bill Continue Reading
Other SBA Loan Programs for Small Businesses During the Pandemic: The SBA 504 Loan Program
The ongoing COVID-19 pandemic has precipitated an economic slowdown not seen in over a decade. In response, the federal government has enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), taking unprecedented steps to address the concerns of small and medium-sized Continue Reading