In the current COVID-19 context (“coronavirus,” for simplicity), companies should map their contractual rights and obligations to determine whether risks exist and, if so, what mitigation actions could be put in place. This risk analysis can be made in a very short time (that is, a few hours or even less than an hour) with the support of artificial intelligence. We have adopted an artificial intelligence platform in 2017 and, to support companies in this emergency situation, we will contribute...

Read more

#SocialDistancing is a term that government and health authorities came up with to drive home the idea that people must self-isolate in order to combat the COVID-19 outbreak. But social distancing is not precisely what we are doing… and that is not a bad thing. What we are doing is physically distancing while socially connecting. (I can thank my friend Roberta Sydney for that revelation.) The truth is that many people may be more socially connected than they have ever...

Read more

In response to the coronavirus pandemic, RavenPack, a leading provider of big data analytics, has launched a live and interactive website to help navigate the oceans of information currently available on the novel coronavirus and its impact on world affairs. The free Coronavirus News Monitor can be accessed on https://coronavirus.ravenpack.com/ CONTINUE READING... Compliments of RavenPack International SL - a member of the EACCNY.

Read more

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a roughly $2 trillion coronavirus response bill signed into law yesterday, is intended to provide widespread emergency relief for Americans and the country’s economy. In addition to its benefits for individuals, the bill provides aid for small businesses, large corporations, hospitals and public health agencies, and state and local governments. Among its provisions for small businesses are emergency grants and a forgivable loan program for companies with 500 or...

Read more

Rebates Tax Relief to U.S. Individual Taxpayers Recovery Rebates The CARES Act provides cash to eligible individuals and families through a process known as “recovery rebates.” The rebate amount for individual taxpayers is $1,200 and married couples filing jointly will receive a maximum of $2,400. There is also an additional rebate of $500 for each child under the age of 17 who qualifies for the tax credit. Individuals with no income or who have income from non-taxable sources are also eligible...

Read more

Unprepared for the unimaginable – temporary disruption COVID-19 has forced millions of people in the US alone out of work already. Many millions still in work now do so from home, or try to, often for the first time. Given how highly unusual this situation is and the very real and understandable fear and uncertainty it carries with it, it isn’t surprising that even with a decent level of organization, goodwill and a proper setup, working from home is not...

Read more

The President has stated that “The cure can’t be worse than the problem."  He said that he would like to start opening up the country to business as soon as Easter Sunday. However, the virus has already spread to all 50 states. The current thinking is to designate areas based on risk so that areas where Covid-19 has not infected too many people (how much is too many?) could be phased in and businesses and manufacturing can restart.  This idea,...

Read more

Please see below an update to the corporate tax issues for European businesses in response to COVID-19. 1. Federal - Calendar 2019 Tax Filings Originally Due April 15 Can Now be Filed by July 15 2. 2019 Payment Deadline for 2019 Extended to July 15 3. 1st Quarter Payments Due April 15 Pushed to July 15 4. 2nd Quarter Payments Due June 15th have NOT been Extended 5. New York State and City Follow Federal Deadlines 6. Other States Have Made Similar Accommodations 7. Section 165(i)...

Read more

The global COVID-19 crisis is causing sudden and unprecedented disruption. It’s impossible to predict the total impact – but these are turbulent and trying times, and dramatic action and resiliency will be required to navigate this together. People, infrastructure, small and large businesses, and economies are all being affected. With the immediate well-being and health of people rightfully being top priority, many retail and other businesses are functioning at reduced capacity or as online-only operations. While some retailers have...

Read more