Coronavirus

Completing Commercial Real Estate Transactions in the COVID-19 Environment

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How do I get my commercial real estate transaction closed in the COVID-19 environment?  Many transactions are at a standstill, particularly if lenders are overwhelmed or are having difficulty underwriting loans with economic conditions in a state of flux.  However, for those deals past the due diligence...

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Additional guidance from the SBA on “available liquidity” element of certifications for PPP Loans – Safe Harbor extended to May 18, 2020.

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Since the passage of the CARES Act and the SBA completing the first round of PP Loans, companies have been dealing with an ever changing set of guidelines interpreting the eligibility requirements for a PPP Loan and the eventual forgiveness of the Loan.  Unfortunately, no clear guidance is yet available. On...

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COVID-19: New IRS Relief Allows Health Plan and Flexible Spending Account Election Changes

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On May 12, 2020, the IRS issued guidance (IRS Notice 2020-19) to allow temporary changes to section 125 cafeteria plans.  These plans allow participants to pay their portion of health insurance premiums and contribute to health care flexible spending accounts and dependent care assistance spending...

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Certifications made on application for a PPP Loan – Safe Harbor deadline extended to May 14, 2020.

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Since the passage of the CARES Act and the SBA completing the first round of PP Loans, companies have been dealing with an ever changing set of guidelines interpreting the eligibility requirements for a PPP Loan and the eventual forgiveness of the Loan.  Unfortunately, no clear guidance is yet available. On...

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COVID-19 and Retirement Plans – Partial Plan Termination Issues and New Fiduciary Relief

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Potential Partial Termination of Retirement Plan.  A partial retirement plan termination may occur when there is a significant reduction (generally more than 20%) in plan participation due to employer-initiated terminations or layoffs during the plan year.  If a partial termination occurs, affected...

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