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Search OptionsInsightsIRS Provides Relief for Partnerships to File Amended Returns
On April 8, 2020, the IRS issued Rev. Proc. 2020-23 (“RP 20-23”) in response to provisions of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). RP 20-23 allows eligible partnerships to file amended partnership returns for tax… 
Changes to Net Operating Loss Carryback Rules May Provide Opportunities
[Updated April 17, 2020] The IRS posted updated FAQ’s related to temporary procedures permitting refund claims, requested on Form 1045, Application for Tentative Refund, or Form 1139, Corporation Application for Tentative Refund, to be submitted via… 
Interagency Statement on Loan Modifications and Reporting for Financial Institutions
INTRODUCTION On April 7, 2020, the Board of Governors of the Federal Reserve System (“FRB”), the Federal Deposit Insurance Corporation (“FDIC”), the National Credit Union Administration (“NCUA”), the Office of the Comptroller of the Currency (“OCC”),… CARES Act Provides 100% Bonus Depreciation for Qualified Improvement Property
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") to provide economic benefits to small businesses in response to the novel Coronavirus (COVID-19) pandemic. In addition to the widely… 
Understanding when a “Qualifying Need” for Paid Leave arises under the Families First Coronavirus Response Act
The Families First Coronavirus Response Act (FFCRA) contains two provisions entitling eligible employees to paid leave: (1) the Emergency Paid Sick Leave Act (EPSLA) and (2) the Emergency Family and Medical Leave Expansion Act (EFMLEA). Under both… IRS Extends 1031 Exchange Deadlines in Response to COVID-19 Pandemic
In response to the ongoing novel Coronavirus (COVID-19) pandemic, President Trump issued an emergency declaration under the Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. § 5121 et seq.) on March 13, 2020, which instructed the… 
Governor Holcomb Issues Additional Licensure Waivers to Increase Health Providers Available to Address COVID-19
On April 17, 2020, Governor Holcomb issued Executive Order 20-19 to expand the health care provider workforce available to battle Indiana’s COVID-19 spread. Specifically, the Executive Order expands the list of providers eligible to prescribe orders… 
IRS Provides Guidance For HSAs and Retirement Plans
The IRS provided special relief from the April 15, 2020, Federal income tax return filing and payment deadline in response to the ongoing COVID-19 emergency, in Notices 2020-18 and -17. That relief allows many individuals and businesses until July… 
Important Updates On PPP Loans - Recent SBA Guidance
This week the Small Business Administration (SBA) released guidance on two important topics of the Paycheck Protection Program: acceptable form of promissory note and required funding periods. The SBA and Treasury Department provided guidance through… 
COVID-19 Issues for Commercial Landlords
The novel Coronavirus (COVID-19) pandemic is impacting and will continue to impact commercial landlords in their leasing, management and operation of commercial real estate. This Alert outlines certain key issues commercial landlords may face in the… 
Q & A on Directors & Officers Insurance: Coverage for Liability due to COVID-19
The coronavirus of 2019 (COVID-19) has affected all businesses in one way or another. For public and privately held companies, a big question arises: what liability does the company have? If an employee, customer, shareholder, or third-party sues… 
OCR Relaxes Enforcement For Pandemic-Related Disclosures of PHI During Public Health Emergency
The Office of Civil Rights (OCR) at the U.S. Department of Health and Human Services (HHS) announced that effective April 2, 2020, it will not impose penalties against health care providers or their business associates for certain violations of the… 
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