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Business
The Consolidated Appropriations Act, 2021 that was signed into law by President Trump on December 27, 2020, extends the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) unemployment insurance programs passed earlier this year. The CARES Act expanded unemployment insurance benefits to individuals through three programs: (1) Federal Pandemic Unemployment Compensation (“FPUC”); (2) Pandemic...
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This article is an update of an article posted on December 22, 2020. On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 in order to fund the government through September 30, 2021 and provide economic relief in response to the coronavirus pandemic. This law does not extend the Families First...
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As Indiana businesses await key rulings on how courts will address coverage of business interruption insurance, a North Carolina state court recently issued an order granting partial summary judgment favoring a group of plaintiff restaurants. This is a positive indicator for businesses facing coverage denials. As we’ve reported in previous blog posts such as Business...
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In its May 5, 2020 decision, Hartman v. BigInch Fabricators & Construction Holding Company, Inc., 2020 WL 2121471 (Ind. Ct. App. 2020), the Indiana Court of Appeals provided some overdue clarity for shareholders of closely held entities. To keep pace with neighboring jurisdictions, the Court settled a longstanding issue for valuing closely held shares: whether open...
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The Small Business Administration (“SBA”) recently released draft Paycheck Protection Program (“PPP”) necessity questionnaires for comment and review by the public. The draft questionnaire is a continuation of the SBA’s required good faith certification by borrowers that the “[c]urrent economic uncertainty makes [the PPP loan] request necessary to support the ongoing operations” of the applicant...
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Guidance for businesses that have received funds under the Paycheck Protection Program (“PPP”) and are now considering or undergoing a change of ownership.
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The surge of COVID-19 government-ordered shutdowns and health stay-at-home mandates is imposing an unprecedented economic impact on businesses of all sizes. COVID-19 is forcing business owners to find ways to survive the sharp drop in economic activity. For many insured businesses, one potential avenue of relief is their business interruption insurance.
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Pursuant to the memo “Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster,” employers will be allowed to defer the withholding, deposit, and payment of the employee portion of Social Security taxes if the employee’s bi-weekly pre-tax pay is less than $4,000. The IRS issued additional guidance for employers in implementing the payroll...
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Highlights of Paycheck Protection Program FAQs on Loan Forgiveness issued by SBA to address borrower and lender questions concerning forgiveness of PPP loans.
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Executive order mandating face masks in City of Evansville revoked as Indiana statewide face mask mandate takes effect.
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