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COVID-19 Related News
COVID-19 Related News
17
Feb
Our ‘Next Generation EU’ recovery plan is about more than just money.
It’s a very strong message of solidarity and of trust in the European Union. Now it’s time to deliver! The Recovery and Resilience Facility – a key part of our recovery plan – is on its way to becoming a reality after today’s signature.
This will play a crucial role in helping Europe overcome the economic and social impact of the pandemic and will help us to secure the...
17
Feb
Today, the Commission is proposing immediate action to prepare Europe for the increased threat of coronavirus variants. The new European bio-defence preparedness plan against COVID-19 variants called “HERA Incubator” will work with researchers, biotech companies, manufacturers and public authorities in the EU and globally to detect new variants, provide incentives to develop new and adapted vaccines, speed up the approval process for these vaccines, and ensure scaling up of manufacturing capacities.
Taking action now is important as new variants continue to emerge and...
17
Feb
Key insights
Debt cancelation amounts are generally included in gross income. This may come as a surprise to unsuspecting borrowers.
Fortunately, Congress has provided some exceptions and special provisions to address taxpayer concerns with COVID-related debt relief.
Under the Consolidated Appropriations Act 2021 (CAA 2021), Congress provided both financial assistance and tax relief. The massive year-end package ― including tax provisions which effectively told Treasury Department and IRS to give debtors a break — is welcome relief to many individuals and organizations.
Unfortunately for...
02
Feb
The Department of Justice (DOJ) entered into its first civil settlement for loan fraud involving the Paycheck Protection Program (PPP). On January 12, the U.S. Attorney’s Office for the Eastern District of California announced that Slidebelts, Inc. and its president and CEO, Brigham Taylor, agreed to pay $100,000 in damages and penalties to resolve civil fraud allegations for misrepresenting their bankruptcy to obtain a $350,000 PPP loan.
In April 2020, California-based fashion accessories internet retailer Slidebelts submitted three PPP loan applications, falsely...
26
Jan
In response to the onset of the Covid-19 pandemic, in March 2020, Congress enacted the Families First Coronavirus Response Act (FFCRA) – the first ever paid federal leave program for private employers. The FFCRA as enacted required private employers with less than 500 employees to provide up to 80 hours of paid sick leave at employees’ regular rate of pay for employees who were unable to work due to a Covid-19 related quarantine order or while awaiting a medical...
25
Jan
Today the Commission is proposing additional safeguards and requirements for international travellers into the EU. New coronavirus variants and the volatile health situation worldwide call for further action to ensure that any travel to the EU takes place safely. To reflect the latest scientific advice, the Commission is also proposing updated criteria taking into account the testing rate, testing positivity and detection of variants of concern when deciding on the application of restrictions on non-essential travel to the EU to a specific non-EU country.
Additional safeguards on travel from outside the EU
Member States should introduce additional measures to ensure that travel into the EU takes place safely. This concerns those travelling...
21
Jan
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...
20
Jan
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...
