According to Section 1106 of the CARES Act, a portion of the Paycheck Protection Program (“PPP”) loans can be forgiven on a tax-free basis based on the extent of certain covered expenses (i.e., payroll, rent obligations, utility payments and mortgage interest) incurred during the eight-week period following funding of the PPP loan. Amounts forgiven may not exceed th [...]

On March 27, the President signed the Coronavirus Aid, Relief and Economic Security (“CARES”) Act, a $2 trillion omnibus spending package to provide emergency assistance and healthcare response for individuals, families and businesses affected by the COVID-19 pandemic. The CARES Act contains a wide range of economic relief to individuals and businesses – including d [...]

We released a previous Tax Alert regarding the recently passed Families First Coronavirus Response Act (“FFCRA”). Significantly, the FFCRA created a new “emergency sick leave” and expanded the paid leave provisions of the Family and Medical Leave Act (“FMLA”). Many small-to-midsize businesses must now provide additional paid leave to employees but have been granted si [...]

COVID-19 is causing major disruption in all of our lives and will likely get worse before it gets better. The crisis affects all industries. For the food and beverage industry, labor and supply chain disruptions offer many challenges. In particular, restaurants are in varying states of collapse. This industry is the country’s second largest private employer with 15.6 [...]

As families and business grapple with the reality of health and financial uncertainty, employers and employees are also adjusting to a new way of working during the COVID-19 pandemic. Employees are balancing taking care of their loved ones with working from home. Employers are putting systems in place to facilitate remote working and support the flexibility that these [...]

As we move into uncharted waters in the wake of the COVID-19 pandemic, companies are embracing – without much of a choice – 100-percent remote working for employees. Remote working for GHJ (GHJ) has become a large part of our company culture and a way for us to advocate and support employee work-life balance. However as this pandemic continues to develop and change wi [...]

The Families First Coronavirus Response Act (“FFCRA”) was signed into law on March 18, 2020. The FFCRA creates new “emergency sick leave” and expands the current Family and Medical Leave Act (“FMLA”). The FFCRA is intended to address the COVID-19 outbreak by providing paid sick leave, free COVID-19 testing, expanded food assistance and unemployment benefits, and requi [...]

Every five years the Bureau of Economic Analysis (“BEA”) performs a benchmark survey of U.S. Direct Investment Abroad (“USDIA”) called the BE-10. The purpose of the survey is to collect data about USDIA and provide comprehensive analyses to policymakers. Although BE-10 reports are only statistical surveys (non-tax forms), taxpayers holding an interest in foreign affil [...]

Mentorship and sponsorship are always top of mind when progressing through your career. While often used interchangeably, and imperative for career growth, there is a stark difference between mentorship and sponsorship. After attending GHJ’ recent Women’s Empowerment Speaker Series, which focused on knowing the difference and how to make the most out of both, I gain [...]

Originally posted in Thomson Reuters CheckpointOn Dec. 20, 2019, President Trump signed into law the "Taxpayer Certainty and Disaster Tax Relief Act of 2019" (the "Disaster Act") as part of an omnibus spending package, the "Further Consolidated Appropriations Act, 2020" (H.R. 1865, PL 116-94). The Disaster Act extends over 30 Code provisions, generally through 2020.Th [...]