Back in mid-March (which seems much longer than three months ago!), many governors issued stay-at-home orders, silencing the bustle of everyday activity. Restaurants and bars locked their doors, schools moved online, and weekend traffic on Wisconsin’s interstate highways decreased 60%. It was the equivalent, Paul Krugman wrote at the time, of a “medically induced coma, done for the patient’s own good.” While it is undoubtedly true that the shutdowns served their purpose (i.e., slowing the spread of COVID-19 and saving lives), the service sector paid the price. As stupefied consumers flooded grocery stores to amass their own personal stockpiles of…

The Federal Reserve’s (Fed) $600 billion Main Street Lending Program recently launched the latest of several market interventions aimed at cushioning some of the economic damage wrought by the coronavirus. The program aims to provide loans to businesses that were doing well prior to the pandemic but are now struggling to fund operations and retain employees. Under the program, participating banks make loans to struggling businesses and the Fed buys 95% of those loans from the banks. Who qualifies? Businesses established before March 13, 2020, with up to 15,000 employees or up to $5 billion in 2019 revenue are eligible…

Yesterday, the IRS issued additional guidance regarding two hot topics over the last six months: the waiver of the 2020 required minimum distributions (RMDs) from retirement plans and IRAs, and the change in the required beginning date for RMDs from age 70 ½ to age 72. Extension and Expansion of 60-Day Rollover for 2020 RMDs In our blog posts earlier this year, The Early Bird RMD Doesn’t Get the Tax Relief Worm and IRS extends 60-Day Rollover Deadline, we advised that the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) waives most RMDs for 2020 and, if…

OSHA has just issued a “Guidance on Returning to Work” for what it calls “non-essential businesses”.  According to OSHA’s press release, the Guidance supplements OSHA’s previously issued guidance on preparing workplaces for COVID-19 and the White House “Guidelines for Opening up America Again”. The Guidance recommends a phased approach to reopening workplaces, as well as development of workplace reopening plans.  It contains a list of “principles” that it advises employers to consider when developing such plans, as well as recommendations for implementing those principles.  In addition, the Guidance updates a list of frequently asked questions, and provides references to OSHA…

On June 16 the SBA issued a revised Paycheck Protection Program (PPP) Loan Forgiveness Application along with updated instructions.  The update in large part reflects the changes made to PPP by the Paycheck Protection Program Flexibility Act of 2020, enacted on June 5.   The new form can be found here, and the new instructions can be found here. The updated form accommodates both borrowers who are sticking to the original eight week covered period, as well as those who are “flexing” to the 24-week covered period.  It also includes some updated representations with respect to the available FTE…

Today the U.S. Supreme Court decided in a 6-3 decision that Title VII provides protection from discrimination on the basis of sexual orientation and gender identity in the workplace. Justice Neil Gorsuch and Chief Justice John Roberts joined the four liberal Justices for the majority.  Justice Alito, Justice Thomas and Justice Kavanaugh dissented in lengthy dissenting opinions. The Court’s decision consolidated three cases argued in October—Gerald Lynn Bostock v. Clayton County, Georgia, ­­­No. 17-1618, Altitude Express Inc., et al. v. Melissa Zarda et al., as Co-Executors of the Estate of Zarda, No. 17-1623, and R. G. & G. R. Harris…