We are facing a rapidly changing environment. The challenges affect every aspect of life and every member of our communities. We have set up this webpage to provide up-to-date information on legal matters as well as health, financial, tax and business resources, as well as CARES Act information, that may be useful to you in handling your day-to-day concerns and needs. This page provides short Alerts on recent developments and links to government and private resources and programs. We also encourage you to follow our updates on LinkedIn and Facebook.
At Bousquet Holstein, we are continuing to focus on you, our clients and friends, on your legal matters and on working together to stay current on developments. All of our attorneys, paralegals and support staff are working remotely and accessible to you by email and by calling their office phones or cell phones.
If you are new to the firm, and would like to speak with legal counsel to assist you or your business during this difficult time, you may call 315.422.1500. We have a receptionist taking calls remotely weekdays between 8:30 AM and 5:30 PM. Or you are welcome to complete the Contact Form at the bottom of this page and we will respond to you as quickly as possible.
New | SBA, Treasury Department PPP Guidance
The Small Business Administration (SBA) and the Treasury Department have released new Paycheck Protection Program guidance, including:
SBA Releases Responses to FAQs on the Application for Forgiveness of the PPP Loan
On August 4, 2020, the Small Business Administration released responses to Frequently Asked Questions (“FAQs”) regarding the application for forgiveness of the Paycheck Protection Program (“PPP”) Loan. For details please review this Legal Alert posted by Bousquet Holstein Attorney Christy Vouri-Misso: http://bhlawpllc.com/publication/sba-releases-responses-to-faqs-on-the-application-for-forgiveness-of-the-ppp-loan/
SBA Updates Requirements for New PPP Loans and Loan Forgiveness
On June 11, June 12, June 17, and June 19, 2020, the Small Business Administration issued a series of revisions to the Interim Final Rules associated with the Paycheck Protection Program (“PPP”). These revisions are consistent with the Paycheck Protection Program Flexibility Act, which was signed into law on June 5, 2020 and which modified the original PPP rules in the CARES Act. For more details please read this Legal Alert posted by Attorney Gregory Eriksen: https://bhlawpllc.com/publication/sba-updates-requirements-for-new-ppp-loans-and-loan-forgiveness/
LOOSENED RESTRICTIONS ON USE AND FORGIVENESS OF PPP LOANS – LOANS STILL AVAILABLE INFORMATION
The Paycheck Protection Program Flexibility Act is effective June 5, 2020, and modifies and relaxes some of the loan conditions in the CARES Act. Approximately $100 billion in loans are still available, and currently applications must be received by June 30, 2020. For more information please review this Legal Alert posted by attorney Gregory Eriksen: http://bhlawpllc.com/publication/loosened-restrictions-on-use-and-forgiveness-of-ppp-loans-loans-still-available/
CARES ACT AND PPPIA INFORMATION
Paycheck Protection Loans and Economic Injury Disaster Loans and Grants
On Friday, March 27, 2020, the President signed into law the CARES Act, which contains $376 billion in relief for American workers and small businesses. On Friday, April 24, 2020, the President signed the PPPIA into law which authorized an additional $310 billion for the Paycheck Protection Program loan program and the set-aside of a portion of these new funds for lending by small and community-based lenders.
The PPPIA also authorized $10 billion more for grants under the Economic Injury Disaster Loan program (EIDL) and $50 billion more for EIDL loans directly administered by the SBA. For more information please review this Legal Alert: http://bhlawpllc.com/publication/more-funding-ava…-to-meet-payroll/
For detailed information on funding options, loans, grants, relief program, and the Paycheck Protection Program, please visit these government websites, and please contact your attorney for guidance:
- Small Business Administration (SBA)– here you will find information on all COVID-19 related programs that SBA is providing, including the Paycheck Protection Program, Economic Injury Disaster Loans and Emergency Grants, and Small Business Debt Relief.
- Department of Treasury– here you will find information on the Paycheck Protection Program, as well as other tax provisions meant to help employers, including non-profits.|
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NEW! The Small Business Administration has released the much-anticipated SBA Form 3508, the application required for forgiveness of the Paycheck Protection Program loan. A borrower must submit a loan forgiveness application to its lender, not the SBA. For detailed information and a link to the application form please review this Legal Alert posted by attorneys Jean S. Everett and Christy Vouri-Misso. http://bhlawpllc.com/publication/paycheck-protection-program-loan-forgiveness-application-released/
- The Department of Treasury has issued an updated list of frequently asked questions regarding PPP. Find the list of FAQs here: https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf
- To help small business owners and entrepreneurs better understand the new programs that are available to them, the US Senate Committee for Small Business and Entrepreneurship has created a comprehensive guide many of the small business provisions in the CARES Act. These programs and initiatives are intended to assist business owners with whatever needs they have right now. This guide will be updated as new guidelines and opportunities are made available.
- The SBA and DOT issued another round of Frequently Asked Questions for the Paycheck Protection Program including confirming the significance of the certification required to be made by Applicants that current economic uncertainty makes this loan request necessary to support their ongoing operations. https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf
- The IRS has released Revenue Procedure 2020-23 which allows certain partnerships to file amended returns for the 2018 and 2019 tax years thereby permitting those partnerships to amend returns in order to take advantage of the retroactive tax relief available to partnerships in the CARES Act. https://bhlawpllc.com/publication/irs-releases-revenue-procedure-allowing-partnerships-to-amend-returns-to-take-advantage-of-cares-act-benefits/
BOUSQUET HOLSTEIN LEGAL ALERTS AND ANNOUNCEMENTS:
(Please scroll down for CDC websites, local and state hotlines, and health department links)
- The COVID-19 pandemic and government response measures present numerous challenging issues within supply chain, landlord/tenant, and other business relationships. On Friday, May 1st, Bousquet Holstein Attorneys Larry Bousquet, Joe Porcello and Josh Werbeck hosted a webinar as part of the Tompkins County Chamber of Commerce COVID-19 Business Readiness Series, focusing on Contractual Obligations and COVID-19: Force Majeure and Other Excuses for Non-Performance. If you were unable to attend, you may review the recorded webinar here: https://youtu.be/VK7LIx_GV78
REAL ESTATE ISSUES
- Governor Cuomo today extended the NYS eviction moratorium for residential and commercial tenancies through August 20, 2020 (it previously expired in June). The Governor is also prohibiting late charges and requiring that landlords permit tenants to use security deposits for monthly rent.
- The Office of the Comptroller of the Currency, Treasury; Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation are adopting an interim final rule to amend the agencies’ regulations requiring appraisals of real estate for certain transactions. The interim final rule adds a new, temporary provision to the appraisal regulations that provides a 120-day deferral of appraisal and evaluation requirements for all transactions secured by commercial or residential real estate during the COVID-19 pandemic, excluding transactions for acquisition, development, and construction of real estate. The interim final rule does not revise any of the existing appraisal exceptions or any other requirements with respect to the performance of evaluations. http://bhlawpllc.com/wp-content/uploads/2020/04/Interim-Rule-from-Federal-Bank-Regulators-Deferring-Appraisals.pdf
EMPLOYMENT ISSUES
- On Wednesday, March 18, 2020, President Trump signed the Families First Coronavirus Response Act (the “FFCRA”), effective April 1 through December 31, 2020. The FFCRA seeks to assist employees impacted by COVID-19 and applies to employers with less than 500 employees and any covered public agencies. This summary is focused on the Emergency Paid Sick Leave Act (the “Act”) portion of the FFCRA. https://bhlawpllc.com/publication/federal-emergency-paid-sick-leave-act/ Posted by John L. Valentino, Esq. and Rebecca R. Cohen, Esq.
- New York State is acting swiftly to respond to the COVID-19 pandemic. On March 18, 2020, Governor Cuomo signed a bill into law that provides paid sick leave to employees directly impacted by COVID-19. For more information please review this Legal Alert posted by Employment Law Attorneys John L. Valentino and Rebecca R. Cohen. https://bhlawpllc.com/publication/new-york-state-paid-sick-leave-and-covid-19/
- Employers are becoming increasingly concerned about their rights and obligations with respect to maintaining a safe workplace for their employees and complying with various federal and state labor and employment laws. Please review this Legal Alert for more information: Coronavirus – Employment Legal Issues for Employers Posted by John L. Valentino, 315.701.6308 jvalentino@bhlawpllc.com
BUSINESS ISSUES
- On July 17, 2020, the Federal Reserve Board announced two loan options under the Main Street Lending Program for nonprofit organizations such as educational institutions, hospitals, and social service organizations. For more information please review this Legal Alert posted by Public Finance Attorney Jean S. Everett: http://bhlawpllc.com/publication/main-street-loan-program-now-available-to-nonprofit-organizations/
- Recently released IRS Notice 2020-39, provides relief for qualified opportunity funds (“QOFs”), their investors and qualified opportunity zone businesses from many upcoming deadlines due to the Coronavirus. Previously, the IRS extended the 180-day deadline for investors to invest capital gains into a QOF to July 15, 2020. For more information please review this Legal Alert posted by attorney Christy Vouri-Misso: http://bhlawpllc.com/…/irs-extends-many-deadlines-for-qual…/
- Across the country, businesses are reopening and adapting to the COVID-19 pandemic. In doing so, however, businesses must keep in mind new data security regulations from New York that could impact their operations. As of March 21, 2020, New York may penalize qualifying businesses that fail to implement “reasonable safeguards” over collected data or fail to follow strict protocols under its Stop Hacks and Improve Electronic Data Security Act (SHIELD Act). For more information please review this post by attorneys Nathan Jerauld and Joseph Porcello:
https://bhlawpllc.com/publication/new-nys-data-security-regulations-that-may-impact-your-operations-shield-act/
- SBA’s recent interpretation of Paycheck Protection Program loan eligibility warrants a loan recipient reviewing its eligibility and certifications in loan documents. For loan forgiveness and future audits, borrowers must keep clear, contemporaneous and complete records of current business circumstances and their use of PPP funds. For more detailed information please review this Legal Alert posted by attorneys Jean Everett and Gregg Eriksen: https://bhlawpllc.com/publication/heightened-scrutiny-for-ppp-loans-and-may-7-safe-harbor-to-return-ppp-funds/
- The Federal Reserve Board on Thursday announced it is expanding the scope and eligibility for the Main Street Lending Program. As part of its broad effort to support the economy, the Federal Reserve developed the Main Street Lending Program to help credit flow to small and medium-sized businesses that were in sound financial condition before the pandemic.
https://www.federalreserve.gov/newsevents/pressreleases/monetary20200430a.htm
- On April 9, 2010, included among a large number of tax return filing and payment extensions, the IRS extended the deadline for taxpayer’s with capital gain to invest in a Qualified Opportunity Fund. http://bhlawpllc.com/publication/irs-extends-deadline-to-invest-in-a-qualified-opportunity-fund/
- The New York State Department of Economic Development has provided guidance for determining whether a business enterprise is subject to a workforce reduction under recent executive orders: https://esd.ny.gov/guidance-executive-order-2026
- On April 8, 2020, the IRS released Revenue Procedure 2020-23 which allows certain partnerships to file amended returns for the 2018 and 2019 tax years that had previously been prohibited from filing amended returns. This now permits those partnerships to amend returns in order to take advantage of the retroactive tax relief available to partnerships in the CARES Act. For more information please review the attached Legal Alert posted by Tax Attorney Christy Vouri-Misso: https://bhlawpllc.com/publication/irs-releases-revenue-procedure-allowing-partnerships-to-amend-returns-to-take-advantage-of-cares-act-benefits/
- The IRS has issues a warning about coronavirus-related scams – watch out for schemes tied to economic impact payments: https://www.irs.gov/newsroom/irs-issues-warning-about-coronavirus-related-scams-watch-out-for-schemes-tied-to-economic-impact-payments
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The Governor signed Executive Order No. 202.7 on March 19, 2020 which, among other matters, enables licensed notaries to serve as “remote” notaries and to perform their duties utilizing audio-video technology provided specific conditions are met. The conditions set by the Governor are included in this Legal Alert posted by attorney Aaron D. Frishman: https://bhlawpllc.com/publication/governor-cuomo-issues-executive-order-authorizing-remote-notary-services/
- In response to the mandatory non-essential business closures throughout New York State due to the continuing health crisis presented by COVID-19, the Governor issued Executive Order 202.11 (“EO 202.11“) on March 27, 2020. EO 202.11 provides, in part, for the Authorities Budget Office (“ABO”) to disregard certain reporting and other deadlines under the New York State Public Authorities Law (“PAL“). For more information please review the Legal Alert posted by Attorneys Jean S. Everett and Susan R. Katzoff: https://bhlawpllc.com/publication/executive-order-authorizes-relief-for-state-and-local-authorities-on-annual-filing-requirements/
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Five federal financial regulatory agencies today issued a joint statement encouraging banks, savings associations and credit unions to offer responsible small-dollar loans to consumers and small businesses in response to COVID-19. https://www.federalreserve.gov/newsevents/pressreleases/bcreg20200326a.htm
- The NYS Department of Economic Development has provided Guidance on Executive Order 202.6 as updated on March 27, and applies to each business location individually and is intended to assist businesses in determining whether they are an essential business. With respect to business or entities that operate or provide both essential and non-essential services, supplies or support, only those lines and/or business operations that are necessary to support the essential services, supplies, or support are exempt from the workforce reduction restrictions. See the updated list here: https://esd.ny.gov/guidance-executive-order-2026
- Updated COVID-19 information provided by the Oswego County Economic Development Corporation regarding their Emergency Relief Program for Small Businesses: https://t.e2ma.net/message/dt1vec/5m3ent
- On March 21st, Governor Cuomo issued another Executive Order 202.9 in the Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency. This one modifies banking laws, issues directives regarding mortgage payments, and addresses ATM fees. Check here to review the updated order: https://www.governor.ny.gov/news/no-2029-continuing-temporary-suspension-and-modification-laws-relating-disaster-emergency
- On March 19, 2020, Syracuse Mayor Ben Walsh announced the creation of a $500,000 fund to provide interest-free emergency loans to small businesses in the City of Syracuse that have been adversely impacted by the novel coronavirus. The COVID-19 Emergency Relief Program will be administered by the Syracuse Economic Development Corporation (“SEDCO”) and is intended to provide Syracuse small businesses with an immediate solution for short-term working capital. For more information please review this Legal Alert posted by attorneys Michael W. Tyszko and Maria C. Zumpano:
https://bhlawpllc.com/publication/interest-free-emergency-loans-created-for-syracuse-businesses-impacted-by-covid-19/
- Governor Andrew M. Cuomo today, March 20th, announced he is signing the “New York State on PAUSE” executive order, a 10-point policy to assure uniform safety for everyone. It includes a new directive that all non-essential businesses statewide must close in-office personnel functions effective at 8PM on Sunday, March 22, and temporarily bans all non-essential gatherings of individuals of any size for any reason. https://www.governor.ny.gov/news/governor-cuomo-signs-new-york-state-pause-executive-order
- In the wake of COVID-19 closures, the NY State Liquor Authority (the “SLA”) issued guidance this week permitting on-premises establishments to sell alcohol for off-premises consumption. The change was effective March 16, 2020 and continues until the SLA issues further guidance. Licensees do not need to notify the SLA or seek a waiver to begin selling alcohol for off-premises consumption. Please review this Legal Alert for more information: https://bhlawpllc.com/publication/state-liquor-authority-relief-for-restaurants-bars-and-breweries/. Posted by Joshua S. Werbeck 315.701.6447 jwerbeck@bhlawpllc.com
- Ryan M. Silva, Executive Director of the NYS Economic Development Council has shared the following information in regards to the Small Business Administration loans. The SBA will work directly with state Governors to provide targeted, low-interest loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19). The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. For a list of resources and current update information from the SBA including how to gain access to capital, please visit https://www.sba.gov/page/guidance-businesses-employers-plan-respond-coronavirus-disease-2019-covid-19.For information from NY ESDC, please visit: https://esd.ny.gov/sites/default/files/ESD%20FAQ%20COVID1_Businesses%203_FINAL03152020.pdf.
- Tax-exempt bonds issuers and conduit borrowers (such as hospitals, colleges, universities and other nonprofits) should add continuing disclosure to their COVID-19 checklist. Disclosure obligations continue throughout life of bonds and require that information made available to the market be accurate and complete. Please review this Legal Alert for more information: COVID-19: Reaching Bondholders and the Market with Disclosure. Posted by Jean S. Everett 212.381.4870 jeverertt@bhlawpllc.com
TRUSTS AND ESTATES ISSUES:
FAMILY LAW ISSUES
TAX AND DEBT ISSUES:
- UPDATE: The Department of Treasury and the Internal Revenue Service has extended additional key tax deadlines for individuals and businesses. This notice expands relief to additional returns, tax payments and other actions. The extensions generally now apply to all taxpayers that have a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020. Individuals, trusts, estates, corporations and other non-corporate tax filers qualify for the extra time. http://bhlawpllc.com/publication/irs-extends-more-tax-deadlines-to-cover-individuals-trusts-estates-corporations/
- To help millions of people, the Treasury Department and the Internal Revenue Service have launched a new web tool allowing quick registration for Economic Impact Payments for those who don’t normally file a tax return. The non-filer tool, developed in partnership between the IRS and the Free File Alliance, provides a free and easy option designed for people who don’t have a return filing obligation, including those with too little income to file. The feature is available only on IRS.gov, and users should look for Non-filers: Enter Payment Info Here to take them directly to the tool.
- On March 17, 2020, Governor Andrew M. Cuomo and Attorney General Letitia James announced that effective immediately, the State will temporarily halt the collection of medical and student debt owed to the State and referred to the Office of the Attorney General (OAG) for collection from March 16, 2020 through April 15, 2020. For more information please review this Legal Alert from attorney Jane Yue Zhang:
https://bhlawpllc.com/publication/legal-alert-covid-19-suspension-of-debt-collection-by-nys/
- The Treasury Department and the Internal Revenue Service announced that the filing due date for federal income tax returns would be automatically extended to July 15, 2020. The extension applies to “all taxpayers” including: individuals, corporations, trusts and estates, and other filers. Additionally, payment of income tax due has also been extended to July 15, 2020, without penalties or interest, regardless of the amount of tax due. This extension is automatic, and taxpayers do not need to file any additional forms to qualify for this relief. Click here for IRS Filing and Payments Questions and Answers. Page Posted by Christy Vouri-Misso 315.701.6449 cvourimisso@bhlawpllc.com
TRAVEL AND IMMIGRATION ISSUES:
- UPDATE! The Federal government has agreed to rescind its new policy directive preventing full online instruction in the US for International students settling a lawsuit filed by Harvard University and the Massachusetts Institute of Technology in Boston federal court. Thus, foreign students are now permitted to lawfully remain in the United States even if their schools switch to online-only instruction.https://www.wsj.com/articles/white-house-weighs-scaling-back-rules-on-foreign-students-studying-online-11594746772The original guidance of the U.S. Immigration and Customs Enforcement issued on July 6, 2020, banned foreign students enrolled in U.S. colleges from returning to or remaining in the United States if their colleges adopt a remote-only instruction model for the fall 2020 semester. An increasing number of U.S. universities announced that they will reopen their campuses in the fall but will be conducting online classes. Even with campuses open, international students would have been prohibited from studying in the United States under the original guidance.
- A Presidential Proclamation was issued June 22, 2020, that extends the suspension on some immigrant visa entries and also suspends new entries for some individuals seeking L-1, H-1B, H-2B, or J-1 nonimmigrant work visas. The proclamation goes into effect at midnight (Eastern Time) on June 24, 2020 and will last through December 31, 2020. For more details, please review this Legal Alert posted by immigration attorney Janet Moon:
https://bhlawpllc.com/publication/proclamation-suspends-some-nonimmigrant-work-visa-entries-and-extends-suspension-of-immigrant-visa-entries/
- A Proclamation was issued suspending some immigrant visa entries. The order went into effect April 23, 2020 at midnight eastern time and will last for 60 days. The effect of this proclamation is that some people who are outside the U.S. waiting for an immigrant visa may not enter the U.S. as immigrants during the next 60 days. https://bhlawpllc.com/publication/proclamation-suspending-immigrant-visa-entries/
- In response to the coronavirus outbreak, the Department of Homeland Security and related agencies have closed or strictly limited many immigration-related services, but emergency services continue and some applications are still being processed. The following is an overview of the current immigration services posted by Immigration Attorney Janet E. Moon: https://bhlawpllc.com/publication/legal-alert-limited-immigration-services-continue/
- On March 20, 2020, the Department of Homeland Security announced agreements with Canada and Mexico to restrict unnecessary travel across the borders shared with each country. Each agreement became effective on March 21, 2020 and remains in effect for 30 days (and may be extended). Unnecessary travel includes tourism or recreation, but the agreements do not prohibit cross-border trade, supplies, or individuals engaged in essential travel. Please review the attached Legal Alert posted by Immigration Attorney Anna Putintseva: https://bhlawpllc.com/publication/covid-19-u-s-canada-and-u-s-mexico-travel-restrictions/
IMPORTANT LINKS TO NEW YORK STATE WEBSITES:
CORONAVIRUS RESOURCES AND INFORMATION:
United States Center for Disease Control and Prevention – Coronavirus Information (COVID-19)
CDC: Coronavirus Main Website
https://www.cdc.gov/coronavirus/2019-ncov/index.html
CDC Handouts and Flyers:
CDC Coronavirus Fact Sheet- Handout CDC FACTS ABOUT COVID-19
CDC Facts About Coronavirus- Handout CDC Coronavirus Fact Sheet
CDC Guidance for Employers- Handout CDC Coronavirus Guidance for Employers
CDC What to do if You’re Sick- Handout CDC What to Do if You’re Sick
U.S. Equal Employment Opportunity Commission (EEOC)
Pandemic Preparedness in the Workplace and ADA
New York State Department of Health
https://www.health.ny.gov/diseases/communicable/coronavirus/
Onondaga County Department of Health
http://www.ongov.net/health/coronavirus.html
Tompkins County Department of Health
https://tompkinscountyny.gov/health
New York City Department of Health
https://www1.nyc.gov/site/doh/health/health-topics/coronavirus.page
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Syracuse Community Health Center – Regional Testing Center
https://www.schcny.com/?page_id=1497
New York State Coronavirus Hotline 1-888-364-3065
Central New York – Upstate Medical COVID-19 Triage Hotline 315.464.3979
Onondaga County Senior Citizen Hotline (for seniors living independently) 314-218-1987