COVID-19 Related News

COVID-19 Related News

COVID-19 News, Member News

RPJ Law | That Would Be Enough: COVID-19 Relief Package for Arts and Entertainment Venues, Small Businesses, and Professionals

Initially published in The Law Ally of Broadway | Late last month congressional leaders finally agreed to offer cultural institutions, including music venues and movie and stage theaters, a coronavirus relief package of $15 billion for “Save Our Stages”, as part of the larger $900 billion relief package, which includes additional categorical relief, such as the Paycheck Protection Program, and unemployment benefits and direct assistance to individuals.  The Save Our Stages relief is intended to try to save and assist these...
Chapter News, COVID-19 News

IMF | What the Continued Global Uncertainty Means for You

Global uncertainty reached unprecedented levels at the beginning of the COVID-19 outbreak and remains elevated. The World Uncertainty Index—a quarterly measure of global economic and policy uncertainty covering 143 countries—shows that although uncertainty has come down by about 60 percent from the peak observed at the onset of the COVID-19 pandemic in the first quarter of 2020, it remains about 50 percent above its historical average during the 1996–2010 period. 'Uncertainty in systemic economies matters for uncertainty around the world.' What drives global uncertainty? Economic...
COVID-19 News, Member News

TABS | Update Paycheck Protection Program

The Small Business Administration (SBA) published their guidelines for the Second Round of PPP loans (“PPP2”) which was signed into law late December (The Consolidated Appropriations Act, 2021). This is the second largest federal stimulus package following the previous CARES Act that was signed earlier in 2020. This second round offered another round of Paycheck Protection Loans (“PPP2”), which could potentially benefit some of TABS’ clients. Like the first round of PPP, the loans are meant to help small businesses who...
COVID-19 News, Member News, New York Related News

Grassi & Co. | Moves out of NYC Muddy the SALT Waters for NYS Residents

While a halt in state income tax payments can trigger a residency audit in many states, New York City is one of the few municipalities to aggressively pursue them. With office buildings across the city dark for most of 2020 and employees flocking to other states or second homes, many taxpayers are left wondering where their 2020 resident state and local tax (SALT) obligations lie. This issue is often the blurriest for New York State residents, who still reside in...
COVID-19 News, Member News

CEA Legal | Paycheck Protection Program 2.0

The Paycheck Protection Program (PPP) was established in March 2020 by the U.S. Congress and Government to help small businesses weather the economic fallout caused by the Covid-19 pandemic. After the first two rounds of funding were exhausted in spring ($349 billion) and summer ($320 billion), a new version of PPP has been approved before the end of the year and is now available. Businesses that did not get the loan under the first two rounds will be eligible under...
Chapter News, COVID-19 News

Coronavirus: EU Commission concludes exploratory talks with Valneva to secure a new potential vaccine

Today, the European Commission concluded exploratory talks with the pharmaceutical company Valneva with a view to purchasing its potential vaccine against COVID-19. The envisaged contract with Valneva would provide for the possibility for all EU Member States to purchase together 30 million doses, and they could further purchase up to 30 million more doses. Today's finalisation of exploratory talks with Valneva come in addition to an already secured broad portfolio of vaccines to be produced in Europe, including the contracts...
Chapter News, COVID-19 News

EU Commission proposes to purchase up to 300 million additional doses of BioNTech-Pfizer vaccine

The European Commission today proposed to the EU Member States to purchase an additional 200 million doses of the COVID-19 vaccine produced by BioNTech and Pfizer, with the option to acquire another 100 million doses. This would enable the EU to purchase up to 600 million doses of this vaccine, which is already being used across the EU. The additional doses will be delivered starting in the second quarter of 2021. The EU has acquired a broad portfolio of vaccines with different...
COVID-19 News, Member News

Troutman Pepper | Additional Relief Under the Paycheck Protection Program is on Its Way

Who Needs to Know All parties interested in participating in the PPP. Why It Matters In addition to allocating $284.45 billion in new funding, this package of laws include significant clarifications and modifications to the PPP that are important to borrowers and lenders. On December 27, 2020, the President signed into law the Consolidated Appropriations Act, 2021, which included the Economic Aid to Hard-Hit Small Businesses, Non-profits, and Venues Act (the Act), the COVID-Related Tax Relief Act of 2020, and the Taxpayer Certainty...