Unsure Whether You’ll Lose Tax Deductions for a Forgiven PPP Loan? Wait Until 2021 to File for Forgiveness
As it hashes out the details of the next COVID-19 relief package, Congress is facing pressure from business groups to allow businesses to write off expenses covered by forgiven Paycheck Protection Program (PPP) loans. The groups explain that, without write offs, “millions of small businesses . . . will face a surprising, and, in many cases, insurmountable tax bill next year.” We have received questions about the quagmire of regulations covering tax treatment for businesses when PPP loan balances are . . . Read More
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Weekly Update for Government Contractors and Commercial Businesses – December 8, 2020
If you have questions concerning the content below, please visit this link . WEBINAR: The CARES Act: Highlights and Planning for the Future, December 16, 2020, Cy Alba , Nichole Atallah , Kathryn Hickey, and Matt Feinberg . COVID-19 Client Resource Center: To access resources for businesses navigating the COVID-19 crisis, we invite you to visit PilieroMazza’s “ COVID-19 Client Resource Center .” Contact covid19@pilieromazza.com for immediate assistance. BUSINESS & TRANSACTIONS BLOG: Got Millennials? Two New Trends for Private Company Boards of Directors, December 2, 2020, Laura Sims Recent trends in corporate governance best practices for . . . Read More
Hiring? Recent Amendments to Equal Pay for Equal Work Act Impose New Limits on Employers
Almost thirty years ago, Maryland’s General Assembly passed the Equal Pay for Equal Work Act (Act), imposing an obligation on Maryland employers to pay employees equal amounts for the same work, regardless of the employee’s sex. Effective October 1, 2020, the General Assembly amended the Act, imposing new restrictions on employers both during and after the hiring process. Companies employing workers in Maryland should review and adjust their interviewing and hiring policies to comply with the new law and avoid . . . Read More
Got Millennials? Two New Trends for Private Company Boards of Directors
Recent trends in corporate governance best practices for privately held companies show a shift away from the previous view of Boards of Directors solely as a formality. Increasingly, private companies are realizing the value of boards as a powerful strategic tool to achieve a more cohesive, efficient, and valuable company. Drawing from governance and reporting requirements for public companies under the Sarbanes-Oxley Act of 2002, private companies are creating their own governance structures that mirror those of publicly traded companies, . . . Read More
PilieroMazza Advises Intelligence Contractor T-Rex Solutions on Acquisition of Zot, Inc.
GREENBELT, MD, DECEMBER 1, 2020: PilieroMazza client T-Rex Solutions, LLC (T-Rex)—a leading IT professional services firm in Greenbelt, Maryland, helping the federal government modernize, protect, and scale its systems and data—acquired substantially all the assets of Zot, Inc. (Zot), an engineering services firm serving the intelligence community. Zot’s acquisition expands T-Rex’s offerings to various national security agencies as the company continues to invest in innovative IT management services. Commenting on the acquisition, Cy Alba , a partner in PilieroMazza’s Government Contracts Group , stated, “Having had the pleasure of . . . Read More
PilieroMazza’s Annual Vets Challenge Offers Support to Charities Serving Veterans
Four teams, numerous challenges, and a competitive spirit brought PilieroMazza attorneys, support staff, and friends together for the Firm’s “7th Annual Vets Challenge.” A week of activities—such as a virtual scavenger hunt and virtual game nights—the Vets Challenge is four teams competing for the top spot (and bragging rights) to contribute funds to charities serving our veterans. Organized by the Firm’s Corporate Social Responsibility Committee , the Vets Challenge provides several team-building opportunities for the PilieroMazza family, but we always remember its primary purpose: . . . Read More
COVID-19 Legislation: How Is It Impacting Federal Contractors?
Click here to view the recorded session. Disclaimer: This communication does not provide legal advice, nor does it create an attorney-client relationship with you or any other viewer. If you require legal guidance in any specific situation, you should engage a qualified lawyer for that purpose. Prior results do not guarantee a similar outcome. Attorney Advertising: It is possible that under the laws, rules, or regulations of certain jurisdictions, this may be construed as an advertisement or solicitation.
Weekly Update for Government Contractors and Commercial Businesses – November 24, 2020
If you have questions concerning the content below, please visit this link . WEBINAR: The CARES Act: Highlights and Planning for the Future, December 16, 2020, Cy Alba , Nichole Atallah , Kathryn Hickey, and Matt Feinberg . COVID-19 Client Resource Center: To access resources for businesses navigating the COVID-19 crisis, we invite you to visit PilieroMazza’s “ COVID-19 Client Resource Center .” Contact covid19@pilieromazza.com for immediate assistance. LITIGATION & DISPUTE RESOLUTION BLOG: Errors to Avoid when Moving State Litigation to Federal Court, November 17, 2020, Megan Benevento Depending on the claims, parties, and preferences, there are . . . Read More
Defense Production Act Use Under the Biden Administration: What a Stronger Pandemic Response Means for Government Contractors
The Biden Administration plans to adopt a more forceful approach to the COVID-19 pandemic, which will likely include use of the Defense Production Act of 1950 (DPA). As we discussed last April, the DPA authorizes the U.S. government to compel prioritized sales and direct industrial production. For government contractors that receive orders issued under the DPA, operations and contractual obligations can be disrupted, so it is critical to know your rights and obligations under the statute. The DPA authorizes the . . . Read More