On October 2, 2020, the IRS released Notice 2020-76, which—not surprisingly—extends both: (1) the deadline to furnish Forms 1095-C and 1095-B to individuals; and (2) the good-faith reporting relief. What may come as a surprise to some, the IRS announced that this extension will be the final extension of the good-faith reporting relief. In addition, […]
Late Friday, September 11, 2020, the Department of Labor (DOL) issued revised regulations under the Families First Coronavirus Response Act (FFCRA). The new regulations are in response to an August 2020 New York federal court decision that invalidated four key aspects of its previous FFCRA regulations. The Department of Labor has clarified that it considers […]
On September 3, 2020, as reported in Bloomberg Tax, the IRS confirmed advice we’ve been providing clients regarding President Trump’s payroll tax deferral announcement. The IRS confirmed that: The deferral is optional, not mandatory; and The employer, not the employee, controls the decision of whether to defer the employee portion of Social Security tax. The […]
Introduction On June 15, 2020, the United States Supreme Court issued a decision in Bostock v. Clayton County, Georgia ruling that discrimination based on sexual orientation and gender identity is discrimination based on “sex” that violates Title VII of the Civil Rights Act of 1964 (“Title VII”). Title VII prohibits employment discrimination based on race, […]
On August 28th, the IRS issued Notice 2020-65 (the “Notice”) providing additional guidance on President Trump’s August 8th Executive Order on payroll tax deferral (the “Executive Order”, found here). The Executive Order directed the Secretary of the Treasury to take steps to defer withholding of the employee’s share of Social Security taxes for the period […]
Introduction Department of Health and Human Services (“HHS”) updated HIPAA guidance to allow health plans—including fully insured and self-funded group health plans—to use Protected Health Information (“PHI”) for the purpose of disclosing information to participants who have recovered from COVID-19 about how the participant can donate plasma to help battle the COVID-19 pandemic. HIPAA Guidance […]
On August 24, 2020, the U.S. Small Business Administration (SBA) issued an interim final rule (IFR) addressing several important Paycheck Protection Program (PPP) loan forgiveness-related issues and considerations. Exemption to Owner-Employee Compensation Rules First, the IFR provides guidance concerning the ownership percentage (at least in the context of a C-corporation or S-corporation) that triggers the […]
On July 28, 2020, the Michigan Department of Insurance and Financial Services (“DIFS”) issued Bulletin 2020-33-INS, which details the obligations of no-fault auto insurance carriers, either directly or through their agents, to collect documentation of qualified health coverage (“QHC”) under Michigan’s no-fault auto insurance reform. Michigan’s no-fault law no longer requires Michigan drivers to carry […]
Earlier this week, a federal court in New York voided four key aspects of the Department of Labor (DOL)’s regulations implementing the paid leave provisions of the Families First Coronavirus Response Act (FFCRA). Background: As you may remember, the DOL issued final FFCRA regulations on April 1, 2020- the same day that the FFCRA’s paid […]
On August 4, 2020, the U.S. Small Business Administration (SBA), in consultation with the U.S. Treasury (Treasury), issued a series of 23 Frequently Asked Questions (FAQs) relating to Paycheck Protection Program (PPP) loan forgiveness issues. The FAQs arrive four days before the current August 8, 2020, deadline for applying for a PPP loan. While many […]
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