Congress has broad authority to levy taxes on entities, transactions, and property of all sorts. This includes individuals, businesses, not-for-profits, profits, income, investment returns, imports, and well, you get the idea. Under the 16th Amendment, Congress can and has adopted a graduated income tax, whereby persons and entities with more resources are generally taxed at […]
Last week, Governor Cuomo gave his 2021 version of the New York State of the State address. In his address, Governor Cuomo outlined his agenda for 2021, which includes not only New York’s plan to combat COVID-19, but also tackles other critical issues facing New York, including jump starting the economy. In this post, we […]
Over the last few weeks, we have written several posts concerning the massive Consolidated Appropriations Act, 2021 (“CAA”). The 5,593-page bill includes everything from a new stimulus package to aid Americans during the pandemic to environmental provisions to combat climate change. Although the CAA is extensive, there are some provisions that did not make the […]
Last Monday the New York State Legislature passed, and the Governor promptly signed, the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 (“EEFPA”) into law. EEFPA was designed to dramatically slow or stop any eviction proceeding in the State and to provide relief to homeowners affected by the pandemic. Background Since Executive Order 202.8 […]
As we have outlined previously on this blog, the $2.3 trillion, 5,593-page Consolidated Appropriations Act, 2021 (“CAA”) is vast and far reaching. We have recently written about how the CAA affected the Employee Retention Tax Credit, but Congress added to the CAA other tax policies designed to provide economic relief. This post will outline some […]
We have previously written about some of the far-reaching implications of the latest colossal[1] federal spending package, the Consolidated Appropriations Act, 2021 (“CAA”). This post will provide an overview of changes made to the employer tax credits for employee retention, first established by the CARES Act, which was signed into law in March. The changes […]
Today, New York Governor Andrew Cuomo announced that more areas of New York are now subject to the yellow zone Coronavirus restrictions. Governor Cuomo noted that parts of Onondaga County are included in the yellow zone. In October, New York began identifying regions in the state with increasing COVID-19 infections by one of three colors […]
With the anticipation of a COVID-19 vaccine in the near future, employers should be contemplating how the availability of a COVID-19 vaccine will impact the workplace. Specifically, when the vaccine is released, can employers require employees to be vaccinated against COVID-19? Generally speaking, the answer is yes, employers can mandate vaccination programs. However, these mandates […]
On September 1, 2020, the Federal Emergency Management Agency (FEMA) released interim policy, Coronavirus (COVID-19) Pandemic: Work Eligible for Public Assistance 104-009-19 (Interim Policy), relating to emergency work performed on or after September 15, 2020. The Interim Policy supplants FEMA’s March 19, 2020, Eligible Emergency Protective Measures Fact Sheet and makes many changes to FEMA’s […]
Previously, we reported that the Federal Reserve established the Main Street Lending Program to combat the economic issues caused by COVID-19. The Main Street lending program provides $600 billion to for-profit small and medium-sized businesses that make reasonable efforts to keep employees on the payroll, until now. The Federal Reserve has released proposals of the […]