Recent News and Updates
The Coronavirus Aid, Relief, and Economic Security Act includes several elements intended to keep Americans engaged in the economy. It provides cash payments directly to individuals, expands unemployment benefits and changes the rules for student loans. A summary of those elements is set out in detail in the alert.
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act (often referred to as the stimulus package). Included in the $2.2 trillion stimulus package are provisions aimed at incentivizing businesses to retain workers despite the economic downturn caused by the COVID-19 pandemic. In this article, we discuss two of those provisions, the Paycheck Protection Program and the Employee Retention Tax Credit.
This afternoon, the Coronavirus Aid, Relief and Economic Security (CARES) Act passed the House of Representatives by voice vote, with a formal signature by the President expected imminently. We address some of the key takeaways regarding retirement and health and welfare plans below. The most urgent item added by the CARES Act is likely to be the $100,000 distribution option from retirement plans.
Ohio's Stay at Home Order continues to raise questions as to the types of businesses that may remain open and the rules under which they must operate during the Ohio Order. It has become clear that authorities in different jurisdictions are taking differing approaches in responding to the Ohio Order. Our advice to businesses has three parts.
Ohio will pass a law today that mandates local county government offices necessary for the transfer of real property to remain open at least to real estate professionals during the COVID-19 emergency. This is an important step to keeping Ohio’s banking, lending, real estate, and general economy functioning. Counties may limit access and limit hours of operation, but they must keep these real estate services, deemed essential by the new law, open.
Earlier this week the U.S. Department of Justice warned that the COVID-19 pandemic has led to a surge in Coronavirus-related scams. We highlight some of the fraudulent activity as well as provide some tips on how to avoid becoming a victim of these scams.
On March 25, 2020, the U.S. Senate unanimously passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The CARES Act, often referred to colloquially as the stimulus bill or package, is a record-setting $2 trillion deal. The Federal government has been promising assistance over the last couple weeks, and now that passage of the CARES Act seems to be imminent, many are starting to ask, “how will this help my family?” and “how will this help my business?” A few of the major features of the Act are covered here.
The coronavirus crisis is just beginning to affect the construction industry and should impact the industry for many months, if not longer. To help navigate these treacherous times, we here at Critchfield, Critchfield & Johnston want to assist you by providing some helpful guidance on issues you may face.
Can my manufacturing plant stay open in light of the Director of the Department of Health’s Stay at Home Order (“Ohio Order”)? A Manufacturer can stay open in at least two ways. First, if it meets the definition of an Essential Business. Second, if it produces products used by “Other Essential Businesses and Operations.”
Early on, the current pandemic crisis hit many of America’s nursing homes and long-term care communities hard. The Centers for Disease Control and Prevention (“CDC”) has issued a preparedness checklist for all such facilities.