Legal Updates & Commentary for Tax & Estate Planning
The Paycheck Protection Program[i] has been welcomed by many as the cornerstone of the CARES Act.[ii] It was passed by Congress and signed into law by the President shortly after the government-ordered shutdown of businesses and other organizations[iii] throughout the country as part of the effort to contain the spread…
On March 1, 2020, New York had its first confirmed case of the coronavirus.[i] On March 6, pursuant to the Coronavirus Preparedness and Response Supplemental Appropriations Act[ii], over $8.3 billion in emergency Federal funding was appropriated to combat the spread of the coronavirus. On March 7, Governor Cuomo declared…
The Internal Revenue Code is one of the tools employed by Congress to encourage certain behaviors that it has determined are in society’s long-term best interest and, therefore, worthy of the public’s financial support. Among the socially-desirable behaviors to which the Code is applied, perhaps the best-known is that of…
The Coronavirus Aid, Relief and Economic Security (“CARES”) Act became law[i] on March 27, 2020. Almost immediately, “small” businesses[ii] from every industry – including real estate – began the process of determining whether they would be eligible for the forgivable, unsecured, non-recourse loans to be made under the Paycheck Protection Program, which is…
Rarely has so much been expected by so many from a single legislative act.
The C.A.R.E.S. Act[i] became law on March 27, 2020, approximately two and one-half months after the country confirmed its first case of the virus. During that short period, the number of confirmed cases has increased dramatically, especially…
We are in a Coronavirus-induced lockdown. Most places of business are either closed or are open on a very limited basis. Social distancing is the order of the day. Those who can work remotely are doing so.[i] Many don’t have that option.
Certain businesses are experiencing an uptick in revenue as a…
