On January 6, 2021, the Small Business Administration (SBA) issued its first round of formal guidance for the new Paycheck Protection Program (PPP) and the second-draw PPP loans, which we first discussed here . SBA also gave some indication of plans for the second round of the PPP. SBA’s guidance can be found here for the next phase of PPP and here for the second-draw program. Below are key updates for businesses that need access to this important source of relief funding. As . . . Read More
Earlier this month we reported that under the latest stimulus bill, the Families First Coronavirus Response Act (FFCRA) mandatory leave requirements expire on December 31, 2020. However, the bill, which was signed into law on December 27, does include the option for employers to voluntarily continue to provide employees with FFCRA leave – and in turn to receive a tax credit for such qualified leave – through March 31, 2021. Companies should note that while the deadline to take advantage . . . Read More
On December 27, 2020, the President signed the Consolidated Appropriations Act of 2021, which includes the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “Act”). The Act allows a “Second Draw” of Paycheck Protection Program (“PPP”) loans up to $2 million, expands the permissible uses for which such loans may be used, simplifies the loan forgiveness application for some borrowers, and makes other related changes to the PPP program. While 2021 may bring relief in the form . . . Read More
While the President vetoed the 2021 NDAA—and has put COVID relief into question—he has not yet acted on the Consolidated Appropriations Act, 2021, which contained the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Act) dealing with the second round of PPP Loans. So, while the Act may be in jeopardy of a veto also, it has not yet occurred and, regardless, it is likely many of the PPP Loan provisions contained in the Act will be . . . Read More
After months of deliberation and endless negotiation, Congress sealed the deal late Sunday night on a $900 billion COVID-19 economic relief package, finally delivering long-overdue help to businesses and individuals. While much of the relief seems to be an extension of benefits and rights afforded under the previously passed Coronavirus Aid, Relief, and Economic Security (CARES) Act in March, there are some notable variations that employers should be aware of. The following summary outlines 3 key provisions employers need to know and should plan for immediately. Mandatory FFCRA . . . Read More
In November 2019, the U.S. Department of Justice (DOJ) announced the creation of the Procurement Collusion Strike Force (PCSF), an interagency partnership aimed at preventing and prosecuting anticompetitive behaviors in government procurements. The dual purposes of the PCSF are to (1) deter and prevent anticompetitive conduct in the procurement process through outreach and training to government and industry procurement personnel and (2) jointly investigate and prosecute procurement collusion and fraud by leveraging partnerships in the law enforcement and inspector general . . . Read More
Westlaw Today recently published an article by Jon Pomerance titled “Defense Production Act Use Under the Biden Administration: What a Stronger Pandemic Response Means for Government Contractors.” The article covers potential Biden Administration use of the Defense Production Act of 1950, outlining the rights and obligations of government contractors that receive orders under the statute. To access the full article, please visit this link .
‘Tis the season for holiday cheer and the National Defense Authorization Act (“NDAA”). The NDAA, commonly referred to as “must pass” legislation, is a key legislative vehicle that Congress uses each year to address a wide variety of issues, from defense spending to small business contracting matters. And this year is no different. Based on the recent Conference Report , the 2021 NDAA heading to the President will contain numerous provisions that will impact contractors doing business with the federal government. There . . . Read More
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
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
