On July 6, 2020, the United States Court of Appeals for the Seventh Circuit (which covers appeals from federal courts in Indiana, Illinois and Wisconsin) handed down the third in a series of decisions related to Chicago debtors seeking chapter 13…
Late last week, the Department of Health and Human Services (“HHS”) updated its Frequently Asked Questions (“FAQ”) webpage to provide guidance on the tax treatment of payments received under the Public Health and Social Services Emergency Fund (the…
This is a reminder that pursuant to the March 23, 2020 Order and the May 29, 2020 Order Extending Trial Courts’ Emergency Tolling Authority and Setting Expiration of Other Emergency Orders issued by the Indiana Supreme Court, the Court ordered that…
In response to the ongoing COVID-19 pandemic, the IRS recently released Notice 2020-53 to provide temporary relief for state housing credit agencies, bond issuers, owners and operators from time-sensitive requirements for qualified low-income…
Your Trademark and the United States Patent and Trademark Office ("USPTO")
1. Do I have to register my trademark with the USPTO to protect my trademark?
No, registration is not necessary for protection, but it does provide additional protection…
On Wednesday, July 8, 2020, the United States Supreme Court released its opinion in Our Lady of Guadalupe School v. Morrissey-Berru, (“OLG”), which may affect employers that are churches or other religious organizations. In its 7-2 decision, the…
On June 30, 2020, Indiana Governor Holcomb issued Executive Order 20-33, extending his March 6th Executive Order (Executive Order 20-02). Of special importance for lenders, Executive Order 20-33 extended the prohibition on residential property…
On June 29, 2020, the United States Supreme Court ruled on Seila Law v. Consumer Financial Protection Bureau.1 The Court held that the Consumer Financial Protection Bureau’s (“CFPB”) leadership by a single director removable only for “inefficiency,…
Last night, the United States Senate passed legislation by unanimous consent to extend the deadline for borrowers to apply for funds under the Paycheck Protection Program (“PPP”) from June 30, 2020, until August 8, 2020. The legislation will need to…
The Tax Cut and Jobs Act of 2017 (“TCJA”) added Section 4960 to the Internal Revenue Code (the “Code”), which imposes a new 21% excise tax on compensation paid by certain tax-exempt organizations and related parties (the “Excise Tax”). In December…
In an effort to ease loss mitigation efforts for servicers and assist struggling consumers, The Consumer Financial Protection Bureau (“CFPB”) issued two No-Action Letter (“NAL”) Templates on May 22, 2020.[1] NALs are issued by the CFPB in response…
Did you really need those PPP funds? Did you spend 75% of your PPP funds on payroll costs, or wait, is that standard 60%? Did you lay off all of your employees and are hurrying to hire them back? What if they won’t come back? Do you need a few more…
