On Dec. 9, Congressional Democrats, including Elizabeth Warren (D-Mass.) and Jerrold Nadler (D-N.Y.), proposed sweeping legislation that would overhaul consumer bankruptcy law. The proposed changes, if adopted, generally would make it easier for consumers to access the bankruptcy system and discharge their debts. Below is a discussion of ten critical changes proposed in the Consumer Bankruptcy Reform Act of 2020 (CBRA). 1 ...
On December 28, 2020, New York passed a new law entitled the “COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020.” The act places a moratorium on COVID-19-related residential real property mortgage foreclosure actions and residential eviction proceedings until May 1, 2021, where a tenant or homeowner has submitted a “hardship declaration” to the foreclosing party, landlord, and/or the court ...
The president has signed into law the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which includes several temporary special rules aimed at minimizing forfeitures and increasing the utility of health and dependent care flexible spending accounts (FSAs). Plans providing for one or both accounts can take advantage of these participant-friendly rules immediately ...
The Taxpayer Certainty and Disaster Tax Relief Act, recently passed as part of the “Consolidated Appropriations Act, 2021,” has significantly extended the tax exclusions for employer-paid student loan repayment assistance introduced under the CARES Act. With this extension, employers can provide employees with student loan repayment assistance of up to $5,250 per year for 2021 through 2025 (up to $26,250 total) ...
Key Points The CARES Act provides that PPP loans may be forgiven without causing the borrower to incur cancellation of debt income, but did not address whether business expenses could be deducted if paid for by PPP loan proceeds. On April 30, 2020, the IRS published Notice 2020-32 clarifying that taxpayers whose PPP loans were forgiven could not deduct business expenses covered by such loan proceeds ...
Effective February 23, 2021, the 2016 Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys are being replaced with the new 2021 Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys (“2021 Standards”). The 2021 Standards include a variety of changes which seek to further limit surveyor’s liability and provide better clarity ...
With the ability of public bodies to meet remotely under “any circumstances” set to expire on December 31, 2020, the Michigan Legislature recently amended the Open Meetings Act to extend any reason remote meetings through March 31, 2021. These amendments also now mandate certain safety protocols for in-person meetings held before April 1, 2021 ...
When the scope of the COVID-19 pandemic became apparent in March 2020, an avalanche of articles appeared in which many insurers took the position that there was no coverage for losses associated with the SARS-CoV-2 virus due either to a lack of physical loss or damage to property necessary to trigger coverage under most commercial property policies, or to the effect of virus exclusions found in many such policies ...
Key Points Past and future PPP loan recipients can deduct PPP loan-funded eligible expenses for federal tax purposes even if the loan is forgiven. Expanded eligibility for new loans to include new categories of employers; existing borrowers who have not yet received loan forgiveness may increase loan amount based on expanded allowable expenses ...
Last week, the Equal Employment Opportunity Commission (“EEOC”) updated its COVID-19 guidance to address workplace issues related to COVID-19 vaccines, including mandatory vaccination policies. According to the EEOC, employers may mandate vaccines, but must attempt to accommodate employees who refuse vaccination because of disability or a sincerely held religious belief, practice, or observance ...
This digest is a curated list of Bradley content regarding the coronavirus. In an effort to provide our clients with the easiest way to find information that may be beneficial in responding to the impact of COVID-19, we have provided links to our most recent blog posts, news alerts, webinar recordings and more. Additionally, this digest will now be deployed on a weekly basis in an effort to reduce the number of emails our clients receive ...
Introduction If 2020 has been defined by COVID-19 pandemic, the healthcare industry in 2020 might be defined by a related single issue — telehealth. Those phenomena are obviously connected. While telehealth has been around in varying forms for years, COVID-19 accelerated its growth, use, and acceptance in unprecedented ways. With that growth comes changes. Reimbursement rules have evolved as telehealth has grown and become more accepted ...
Introduction If 2020 has been defined by COVID-19 pandemic, the healthcare industry in 2020 might be defined by a related single issue — telehealth. Those phenomena are obviously connected. While telehealth has been around in varying forms for years, COVID-19 accelerated its growth, use, and acceptance in unprecedented ways. With that growth comes changes. Reimbursement rules have evolved as telehealth has grown and become more accepted ...
The dust has now settled on the new stimulus bill signed by President Trump on December 27, 2020. The changes to the Families First Coronavirus Response Act (“FFCRA”) were buried in over 5,000 pages of text and provide a choice for employers to continue paid leave benefits for their employees as follows: Congress extended the tax credits for employers that provide both paid sick leave and paid family leave through March 31, 2021 ...
While most Americans are likely aware that President Donald Trump signed a pandemic relief and government spending bill into law on Dec. 27, 2020 (the “Omnibus Bill”),[i] it is important for those who have intellectual property assets to understand that tucked away into this nearly 5,600-page legislation are laws impacting copyrights, trademarks, and patents ...
On Dec. 23, 2020, The U.S. Department of Labor (DOL) issued its long-anticipated Final Rule addressing which employees may legally participate in “tip pooling” under the Fair Labor Standards Act (FLSA) and the conditions under which employers may claim “tip credit.” The Final Rule is effective 60 days after publication in the Federal Register and constitutes a major departure from past guidance ...
On December 27, the President signed the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Act) addressing changes to the rules regarding PPP loans, including making a supplemental PPP loan available to many PPP borrowers and increasing the types of business expenses that can be forgiven ...
Tennessee Gov. Bill Lee has extended the executive order allowing carryout and delivery of beer, wine and spirits for restaurants. Restaurants, limited-service restaurants and wine-only restaurants can continue to sell carryout and deliver alcoholic beverages and beer. There is no additional license or permission needed to deliver. Lee extended the privilege through to 11:59 pm February 27, which brings welcome certainty to an industry battered by the pandemic ...
Congress reached agreement on the third round of coronavirus-related relief measures (totaling approximately $900 Billion) as this issue was being written. The relevant statutory language is part of the massive Consolidated Appropriations Act, 2021 (the “Act”) and was released on December 21, 2020. Passage by the House and Senate was swift, and approval by the President is expected ...
On Dec. 21, 2020, Congress passed the Consolidated Appropriations Act, 2021 (the Act), which provides additional COVID-19 relief to individuals and businesses. The long-anticipated COVID-19 relief bill will now head to President Trump for approval or veto. The Act does not extend requirements for employers to provide emergency paid sick leave or emergency paid family and medical leave under the Families First Coronavirus Response Act (FFCRA) past the original Dec ...
Over the past several months, many disputes have arisen over whether the COVID19 pandemic or government responses to it provide, depending on the jurisdiction, an impossibility or impracticability defense for nonperformance under a contract. Now, we are beginning to see a flood of decisions addressing that defense. We previously wrote about two recent decisions from New York that are instructive on the defense of impossibility — the relevant standard under New York law ...
In an update to our client alert from November 30 regarding the San Francisco commercial eviction moratorium previously passed by the Board of Supervisors, we note that, following our publication of the client alert, the Board of Supervisors, on December 1, amended the moratorium to clarify previous language on a retail tenant’s right to terminate its lease that was ambiguous ...
In a small victory for landlords of bankrupt tenants, the Bankruptcy Court for the Southern District of Texas has ruled that the Chuck E. Cheese parent company may not use its bankruptcy filing to avoid paying its rent. The COVID-19 pandemic and related stay-at-home orders have prompted numerous retailers and restaurants to seek bankruptcy protection. Many of those companies successfully used the bankruptcy process to obtain relief from their rental obligations ...
“On the other side of a storm is the strength that comes from having navigated through it. Raise your sail and begin.” Gregory S. Williams Your business and employees have just experienced an extraordinary year. We have learned new ways of working, embraced new technology, and incorporated many new legal requirements, but most importantly, we have persevered ...
