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Responding to the Pandemic, IRS Loosens Opportunity Zone Requirements

Posted on July 2, 2020 by

The IRS recently offered relief to Qualified Opportunity Fund investors, waiving a penalty and pushing back some investment deadlines. This new guidance comes as investment in opportunity zones slows, stymied by brisk coronavirus-related headwinds. A recent survey of investors conducted by the Economic Innovation Group, which helped design the program before it was tucked into […]

Don’t Let the Fear of Losing Your Home to Medicaid Contribute to Elder Abuse

Posted on July 1, 2020 by , and

As we reflect on the close of World Elder Abuse Awareness Month, we wanted to share some information on this important issue. The Centers for Disease Control and Prevention defines elder abuse as an intentional act, or failure to act, by a caregiver or another person in a relationship involving an expectation of trust that […]

In re Hitz Restaurant Group: Coronavirus Shutdown Order Excuses Tenant’s Rent

Posted on June 30, 2020 by

Back in mid-March (which seems much longer than three months ago!), many governors issued stay-at-home orders, silencing the bustle of everyday activity. Restaurants and bars locked their doors, schools moved online, and weekend traffic on Wisconsin’s interstate highways decreased 60%. It was the equivalent, Paul Krugman wrote at the time, of a “medically induced coma, […]

The Fed Launches its Main Street Lending Program

Posted on June 26, 2020 by

The Federal Reserve’s (Fed) $600 billion Main Street Lending Program recently launched the latest of several market interventions aimed at cushioning some of the economic damage wrought by the coronavirus. The program aims to provide loans to businesses that were doing well prior to the pandemic but are now struggling to fund operations and retain […]

IRS Provides More Retirement Plan and IRA Relief

Posted on June 24, 2020 by

Yesterday, the IRS issued additional guidance regarding two hot topics over the last six months: the waiver of the 2020 required minimum distributions (RMDs) from retirement plans and IRAs, and the change in the required beginning date for RMDs from age 70 ½ to age 72. Extension and Expansion of 60-Day Rollover for 2020 RMDs […]

SBA and Treasury Release Revisions to Interim Final Rules on Loan Forgiveness and Loan Review Procedures

Posted on June 24, 2020 by , and

On Tuesday evening (June 22nd), the Small Business Administration (SBA) and Department of the Treasury released revisions to the interim final rule on forgiveness (issued May 22nd) and the interim final rule on loan review procedures (issued May 22nd).  The revisions can be found here and are intended to update the rules in light of […]

5 Ways the Coronavirus May Impact Long-Term Care Insurance

Posted on June 22, 2020 by , and

In Wisconsin, we are soon to reach 25,000 positive COVID-19 test results, over 3,200 hospitalizations, and close to 750 deaths attributed to COVID-19, the disease caused by the coronavirus. It is being recognized that the coronavirus pandemic has had a devastating impact on the elderly, particularly those in nursing homes and other long-term care facilities. […]

EEOC Says Employers CANNOT Require Antibody Testing!

Posted on June 22, 2020 by

On June 17, the EEOC updated its COVID-19 Guidance to clarify that unlike COVID-19 testing, an anti-body test would be a prohibited medical examination.  The FAQ (at A.7) states as follows: Question: The CDC said in its Interim Guidelines that antibody test results “should not be used to make decisions about returning persons to the workplace.” In […]

OSHA Issues New Guidance for Reopening “Non-Essential Businesses”

Posted on June 19, 2020 by

OSHA has just issued a “Guidance on Returning to Work” for what it calls “non-essential businesses”.  According to OSHA’s press release, the Guidance supplements OSHA’s previously issued guidance on preparing workplaces for COVID-19 and the White House “Guidelines for Opening up America Again”. The Guidance recommends a phased approach to reopening workplaces, as well as […]

SBA Issues Updated Paycheck Protection Program Loan Forgiveness Application and Issues New “EZ” Application Form

Posted on June 17, 2020 by , and

On June 16 the SBA issued a revised Paycheck Protection Program (PPP) Loan Forgiveness Application along with updated instructions.  The update in large part reflects the changes made to PPP by the Paycheck Protection Program Flexibility Act of 2020, enacted on June 5.   The new form can be found here, and the new instructions can […]