New York is the most recent state to pass a State Labor Law that mandates employers provide sick leave to their employees. Regardless of size, companies must provide sick leave to employees, allowing employees to accrue time based on the number of hours worked per...
As the weeks have gone by without any new coronavirus-related legislation, it appears that the rules and regulations related to the Payroll Protection Program have started to solidify. We thought now would be a good opportunity to review some of the main components of the...
Starting Wednesday, July 15 the IRS’s “People First Initiative”, enacted to protect American’s during the COVID-19 crisis will expire. The “People First Initiative” paused accounts which were utilizing an installment agreement or payment plan from April 1, 2020 - July 15, 2020. The act allowed...
IR-2020-122, June 17, 2020 WASHINGTON — The Internal Revenue Service has advised that new rules under the CARES Act provide flexibility for health care spending that may be helpful in the current environment where more people may need at-home services due to measures to fight the...
The Small Business Administration (SBA), in consultation with Treasury, has released both a new EZ and revised, full Paycheck Protection Program (PPP) loan forgiveness application. Both applications give borrowers the option of using the original 8-week covered period (if their loan was made before June 5,...
The New York State Governor Andrew M. Cuomo has issued an executive order extending the period for paying property taxes without interest or penalties by 21 days in certain localities. The order also retroactively extends by 21 days the period for paying without interest or...
As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Payroll Protection Program was established to provide relief to small businesses during the coronavirus pandemic. The legislation authorized Treasury to use the SBA’s 7(a) small business lending program to fund loans to...
Many businesses starting to re-open are not at 100% capacity or are subject to restrictions which causes them to need less labor. In New York, there is a Shared Work program which allows employers to keep their employees while allowing them to receive partial Unemployment...
Extension for the Abatement of Penalties and Interest for Sales and Use Tax due to the Novel Coronavirus, COVID-19 The Tax Commissioner’s authority to abate interest, in addition to late filing and payment penalties, for taxpayers who were required to file returns and remit sales and use taxes...
The Tax Commissioner’s authority to abate interest, in addition to late filing and payment penalties, for taxpayers who were required to file returns and remit sales and use taxes by March 20, 2020, for the sales tax quarterly period that ended February 29, 2020, was scheduled to expire...
