July 14, 2021Bankruptcy Slowdown Prompts Lawyers to Pivot to Transactions and Litigation
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The Pentagon inspector general is launching an audit of coronavirus relief funds, according to the memo. “The objective of this audit is to determine whether the DoD awarded Coronavirus Aid, Relief, and Economic Security Act funding to increase the Defense Industrial Base manufacturing capacity in accordance with Federal regulations and Defense Production Act authorities,” it states.
The hotel industry wrote a letter to President Trump requesting executive action to open up the Main Street Lending Program (MSLP).
The U.S. Small Business Administration released on Oct. 8 the Additional Revisions to Loan Forgiveness and Loan Review Procedures Interim Final Rules, which would further simplify (1) the forgiveness and loan review processes for PPP loans of $50,000 or less, and (2) for PPP loans of all sizes, lender responsibilities with respect to the review of borrower documentation.
Businesses are facing wrongful death "take home" lawsuits from the coronavirus, using the prior examples of asbestos.
Gov. Gavin Newsom signed a bill mandating that California employers must notify workers of COVID-19 exposure and comply with shut down if a work site is deemed by OSHA as an "imminent hazard." The bill was prompted by the deaths of at least eight workers and infection of nearly 400 at a meatpacking facility in Livingston.
The Trump administration released its plan for distributing and administering millions of doses of a future coronavirus vaccine to Americans for free. The plan consists of an information campaign led by the Department of Health and Human Services public affairs department; ramping up infrastructure so a vaccine can be delivered “immediately” once authorized; and sending 6.6 million kits of supplies needed to administer the vaccine, such as syringes and alcohol pads.
The World Health Organization issued an Annex on considerations in adjusting public health and social measures in the context of COVID-19.
This memorandum provides a preliminary analysis of the Paycheck Protection Program (PPP) loan-level data by select Subcommittee staff as part of the Subcommittee's ongoing investigation of the program. The analysis shows that the Paycheck Protection Program helped millions of small businesses and non-profit organizations stay afloat during the coronavirus crisis but a lack of oversight and accountability from the Treasury Department and Small Business Association (SBA) may have led to billions of dollars being diverted to fraud, waste, and abuse, rather than reaching small businesses truly in need.
The U.S. Internal Revenue Service issued guidelines on August 28 for employers about how to defer payroll taxes for their employees. The guidance implements President Donald Trump’s order to delay the due date for payroll taxes for millions of workers from Sept. 1 through the end of the year. Come next year, the taxes will need to be paid by April 30, however -- unless Congress votes to forgive the liabilities. Unless lawmakers step up, the guidance says employers must withhold the taxes from the employees from January 1 through April 30, meaning that workers will have double the payroll taxes taken from their paychecks next year to pay back the deferred portion.
Yesterday, the Trump administration added teachers to a federal list of essential workers. This list also includes professors, librarians, cafeteria workers, school administrators, bus drivers, and crossing guards, among other school-related roles.
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