Insights

IRS Issues COVID-19 Cafeteria Plan Guidance for Employers
The IRS issued Notice 2020-29 on May 12, 2020, to assist with the response to the COVID-19 pandemic. The notice provides flexibility for mid-year 2020 elections under a §125 cafeteria plan for employer-sponsored health coverage, health Flexible Spending Arrangements (FSA), and dependent care assistance programs (DCAP). It also provides flexibility to carryover unused benefits in an FSA or DCAP for grace periods or plan years ending in 2020.
One Month Into PPP: How to Maximize Forgiveness and Ensure Compliance
UPDATE – May 13, 2020: This morning, the Small Business Association (SBA) finally released the promised guidance regarding what a “good faith certification” looks like for the purpose of complying with the Paycheck Protection Program (PPP) – and avoiding criminal prosecution. This guidance is limited in scope to the good faith certification over the necessity of the loan. Notably, the SBA is providing a safe harbor based on the original principal amount of a loan. FAQ 46 states that recipients (and their affiliates) with loans of less than $2MM will be deemed to meet the requirement of good faith. (For full text of FAQ 46, click here.)
May 7, 2020
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Private Permitting of “Take” of Endangered Species Under Section 10 of the Endangered Species Act: The Habitat Conservation Plan
This article explains the basic requirements for a Habitat Conservation Plan, to be submitted in connection with a party’s application for an individual permit to impact endangered species and habitat in the course of property development.