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Please Click HerePosted on June 26, 2020 by Matthew D. Rowe
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 […]
Posted on June 24, 2020 by Shanna N. Yonke
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 […]
Posted on June 24, 2020 by Mary Ellen Schill and Amy E. Ebeling
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 […]
Posted on June 22, 2020 by Jessica A. Merkel, Mark D. Munson and Ruder Ware Alumni
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. […]
Posted on June 22, 2020 by Sara J. Ackermann
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 […]
Posted on June 19, 2020 by Ruder Ware Alumni
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 […]
Posted on June 17, 2020 by Mary Ellen Schill and Amy E. Ebeling
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 […]
Posted on June 15, 2020 by Mary Ellen Schill and Sara J. Ackermann
Today the U.S. Supreme Court decided in a 6-3 decision that Title VII provides protection from discrimination on the basis of sexual orientation and gender identity in the workplace. Justice Neil Gorsuch and Chief Justice John Roberts joined the four liberal Justices for the majority. Justice Alito, Justice Thomas, and Justice Kavanaugh dissented in lengthy […]
Posted on June 11, 2020 by Ruder Ware Alumni
The Wisconsin Economic Development Corporation (WEDC) will begin accepting online applications on June 15 for its We’re All In grant, which will provide $2,500 in relief to an estimated 30,000 small businesses throughout the state. Funded by the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, the grant aims to help small businesses with […]
Posted on June 5, 2020 by Amy E. Ebeling and Mary Ellen Schill
A few moments ago President Trump signed HR Bill 7010 into law, which we summarized for you in an alert yesterday. Click here to review that alert. We also need to clarify that all of the revised and amended PPP terms apply to all existing and new PPP loans with the exception of the new […]