22 December 2020

Revisions to Paycheck Protection Program (PPP), Second Round of Loans and Clarity on Tax Deductions among PPP-Related Updates in Latest Federal Stimulus Bill

On December 21, 2020, each of the U.S. House of Representatives and Senate approved a $900 billion stimulus and appropriations bill, which (among many other measures and appropriations) includes important revisions to the Paycheck Protection Program (PPP) administered by the U.S. Small Business Administration (SBA) with support from the Treasury Department (Treasury). Critically, the latest […]


18 December 2020

Michigan Minimum Wage Unlikely to Increase

The Wage and Hour Division of Michigan’s Bureau of Employment Relations recently announced that the state’s minimum wage is not expected to increase on January 1, 2021.  The current minimum wage, which is likely to extend through 2021, is $9.65 an hour. Under Michigan law, the minimum wage for 2021 may not increase if the […]


17 December 2020

Can Employers Retroactively Amend Health FSAs to Cover All Over-the-Counter Drugs and Menstrual Care Products?

Employers that sponsor Health Flexible Spending Accounts (FSAs) may encounter a potential pitfall if they amend their Section 125 cafeteria plans to retroactively allow reimbursement of over-the-counter (OTC) drugs without a prescription and menstrual care products as of January 1, 2020.  Health FSAs are almost uniformly included as a component part of an employer’s Section […]


15 December 2020

Investment-Based Immigration for the Small Business Entrepreneur

****This article originally appeared in the September 2020 issue of the Michigan Bar Journal**** Small businesses have a far larger impact on the United States economy than the term implies, accounting for almost half of our nation’s economic activity.(1) Small businesses have a similar outsized influence on Michigan’s economy and are created at much higher […]


20 November 2020

Year-End Compliance Update for Retirement Plans

As 2020 draws to a close, this is a good time for employers sponsoring retirement plans to wrap up year-end compliance issues and prepare for the upcoming year.  Here is a quick list of topics that plan sponsors may want to consider as 2021 approaches. Year-End Deadlines As usual, plan sponsors should be aware of […]


09 November 2020

Unpublished Paycheck Protection Program (PPP) Loan Necessity Questionnaires Provide Insights, Raise Questions Regarding “Need Certification” Review for Larger Borrowers

On October 26, 2020, the U.S. Small Business Administration (SBA) announced its intention – via a notice in the Federal Register – to create two new standard form questionnaires relating to “need certifications” made by Paycheck Protection Program (PPP) borrowers that, together with their affiliates, received PPP loans of $2 million or more.  These new […]


03 November 2020

2021 Annual Limits Announced

The IRS recently released inflation-adjusted limitations that apply to various employee benefits in 2021. Social Security Taxable Wage Base for 2021 The Social Security Administration recently announced that the maximum amount of earnings subject to Social Security tax will increase from $137,700 in 2020 to $142,800 in 2021. Retirement Plan Dollar Limitations for 2021 The […]


29 October 2020

When Can Employers Terminate COBRA Coverage During the COVID-19 Outbreak Period?

As the COVID-19 pandemic continues, many employers have struggled with the practical problem of how to administer the various time extensions applicable to employee benefit plans due to COVID-19.  On April 28, 2020, the DOL and IRS issued regulations (the “DOL/IRS regulations”) extending deadlines for individuals to request mid-year enrollments, exercise COBRA rights, pay COBRA […]