May 22, 2020 | Client AlertOn May 15, 2020, Republican Representative Chip Roy of Texas introduced in the U.S. House of Representatives a bill known as the Paycheck Protection Program Flexibility Act of 2020 (the “Bill”). The Bill would amend certain Paycheck Protection Program (“PPP”) provisions of the CARES Act.
OSHA’S Disappointing Reversal on Recording COVID-19 Infections as Workplace Injuries
May 21, 2020 | Client AlertThe new OSHA directive reminds employers that recording a COVID-19 illness does not, of itself, mean that an employer has violated any OSHA standard. Moreover, existing regulations exempt employers with 10 or fewer employees and certain employers in low hazard industries from reporting obligations altogether.
SBA Issues Long-Awaited Guidance on PPP Loan Forgiveness
May 18, 2020 | Client AlertOn Friday, May 15, 2020, the U.S. Small Business Administration issued its long-awaited guidance on loan forgiveness under the Paycheck Protection Program (“PPP”). The instructions were in the form of a Loan Forgiveness Application Instructions for Borrowers (the “Application”).
ABA Section of Taxation Letter in Response to IRS Notice 2020-23
May 15, 2020 | Client AlertIn a CCM client alert dated April 23, 2020, deadline changes for Section 1031 like-kind exchanges announced in Notice 2020-23 by the Internal Revenue Service (“IRS”) were outlined. In response to Notice 2020-23, the Section of Taxation of the American Bar Association (“ABA Tax Section”) submitted a letter to the IRS requesting further clarification and guidance and providing additional recommendations for changes.
DUPAGE COUNTY REMOTE PROCEDURES
May 11, 2020 | Client AlertDue to the COVID-19 National Emergency, all Du Page Chancery, Domestic Relations, and Law Division matters scheduled between May 18, 2020 and June 05, 2020, will be heard remotely. This does not include jury trials, evidentiary hearings, arbitrations, or mediations. Remote proceedings will be conducted through Zoom, CourtCall, or other platforms preferred by the assigned judge.
STIMULUS CHECKS TO DECEASED MUST BE RETURNED
May 7, 2020 | Client AlertOn March 27, 2020, federal lawmakers approved a $2 trillion stimulus package to reduce the economic impact of the COVID-19 National Emergency. A part of that package was a onetime cash payment of $1,200 to qualifying American citizens.
Senate Bill Introduced to Reverse IRS Position on PPP Loan Forgiveness
May 7, 2020 | Client AlertOn May 5, 2020, Senator John Cornyn, with bipartisan support, introduced legislation that would permit borrowers that received Payroll Protection Program (“PPP”) loans under the CARES Act to deduct expenses that were funded with the PPP loans. The Senate bill responds to IRS Notice 20-32, which provided guidance regarding the deductibility for federal income tax purposes of otherwise deductible expenses when a taxpayer receives a PPP loan.
New COBRA Rules During the COVID-19 National Emergency
May 6, 2020 | Client AlertThe Department of Labor and the Internal Revenue Service recently issued a Joint Rule which gives employees additional time to make important health insurance coverage decisions if they experience a “qualifying event” under COBRA. The Joint Rule extends multiple COBRA deadlines related to coverage and election through the “Outbreak Period”.
Letter Updating Covid-19 Impact on Court Operations and the Affect on Estate Planning
April 30, 2020 | Client AlertWe know that the global spread of the Corona Virus (“COVID-19”) continues to impact our community in a way that is creating concern and uncertainty at home, at work, and in the economy. As the situation develops, so does our firm’s response.
Illinois Court Operations During COVID-19 UPDATED
April 30, 2020 | Client AlertIllinois courts remain open in a limited capacity. Judges and judicial employees in all counties are encouraged to work from home for non-emergency matters, and litigants are encouraged to continue utilizing court services while following all applicable public health guidelines. Below please find a brief synopsis of current court availability in civil matters across local courts.