Recent News and Updates
Tax laws place limitations on the amount of contributions and benefits that may be allocated to a retirement plan or IRA each year. The limits differ depending on the type of plan. The Internal Revenue Code requires the Secretary of Treasury to annually adjust the dollar limitations on benefits and contributions under qualified retirement plans to accommodate cost-of-living increases. On October 26, 2020, the Internal Revenue Service (IRS) issued Notice 2020-79 which announced the limits for 2021.
Governor Mike DeWine has designated $38.7 million of funding received by the State of Ohio from the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide assistance payments to on-premise liquor permit holders to help them through financial difficulties experienced during the COVID-19 pandemic.
Critchfield's Workers' Compensation team is ranked on the new 2021 U.S. News - Best Lawyers "Best Law Firms" list just released today. The firm received a Metropolitan Tier 1 ranking for the Akron Metropolitan area.
The Small Business Administration (SBA) recently released the long-awaited loan forgiveness application form for funds borrowed under the Paycheck Protection Program. This form allows borrowers that received $50,000 or less to submit an application to have their loan forgiven.
The minimum wage for some Ohio employees is set to increase effective January 1, 2021.
Ohio has enacted legislation that grants protection to Ohio businesses and entities from liability in most situations where it is alleged that their action or inaction exposed someone to COVID-19. This immunity is granted from the date of the Governor’s state of emergency order on March 9, 2020, through September 30, 2021.
The Centers for Disease Control (CDC) and the Department of Health and Human Services have issued an order that effectively halts most residential evictions in a purported attempt to reduce the spread of COVID-19. The order is effective September 4, 2020, through December 31, 2020.
Conflicts are inevitable. When two parties have a problem that is unable to be resolved, they often turn to a dispute resolution process for help. Mediation is an alternative to litigation, and it can be a useful tool for both business and personal disputes.
You have until Monday, August 31, 2020, to re-contribute any 2020 required minimum distributions from your IRA or 401(k) back to your retirement account if you wish to defer taking the 2020 distribution.
Critchfield, Critchfield & Johnston is proud to announce that five of its attorneys have been recognized in The Best Lawyers in America 2021.