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…
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…
On March 30, 2020, the IRS issued a new tax form, and related instructions, for employers seeking to obtain advance payments of three new tax credits established under the Families First Coronavirus Response Act (“Families First Act”) and the…
On March 16, 2020, Indiana Governor Eric Holcomb issued Executive Order 20-04, which contained certain exceptions to Indiana’s Open Door Law (“ODL”) and Access to Public Records Act (“APRA”). For further information concerning Executive Order 20-04,…
As many employers are considering temporarily shutting down their workplaces or laying off employees, it is important to ensure compliance with the Worker Adjustment and Retraining Notification (WARN) Act. The failure to comply could cost employers…
Municipal securities disclosure obligations under federal securities law arise under (1) the antifraud provisions of Rule 10b-5 of the Securities Exchange Act of 1934 prohibiting misstatements or omissions of material fact leading to fraudulent…
The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) provides financial relief to employees facing economic hardships as a result of the pandemic. Below are provisions applicable to health plans and health savings accounts.
Exemption…
In this ever-changing economy due to COVID-19, we are receiving many questions regarding layoffs, furloughs and terminations of employment and how they impact the company’s qualified retirement plan.
What is a partial plan termination?
[UPDATED APRIL 17, 2020] On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the “Act”) which provides significant economic benefits to small businesses. Two of the most economically beneficial programs…
On Tuesday, March 31, 2020, the Indiana State Board of Accounts (“SBOA”) issued guidance relating to the SBOA’s audit position surrounding the use of public funds during the COVID-19 pandemic. In this guidance, the SBOA acknowledged that it would…
The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) provides financial relief to employers and employees facing economic hardships as a result of the pandemic. Below are provisions applicable to qualified retirement plans.
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Companies who obtain loans and loan guarantees from the Exchange Stabilization Fund authorized by the CARES Act are subject to restrictions on executive compensation. These loans and loan guarantees are separate from relief small business employers…
