On April 9, 2020, included among a large number of tax return filing and payment extensions, the IRS extended the deadline for taxpayer's with capital gain to invest in a Qualified Opportunity Fund. In order to defer capital gain by investing in the Qualified Opportunity Fund, the capital gain must be invested within 180 days Read More »
The Department of Treasury and the Internal Revenue Service has extended additional key tax deadlines for individuals and businesses. Last month, the IRS announced that taxpayers generally have until July 15, 2020, to file and pay federal income taxes originally due on April 15. No late-filing penalty, late-payment penalty or interest will be due. This Read More »
On April 8, 2020, the IRS released Rev. Proc. 2020-23 which allows certain partnerships to file amended returns for the 2018 and 2019 tax years that had previously been prohibited from filing amended returns. Prior to the Revenue Procedure, partnerships subject to the Bipartisan Budget Act of 2015 ("BBA") would not be able to take advantage of Read More »
Pursuant to the enacted 2020‐2021 NYS Budget (the "Budget"), covered projects undertaken by industrial development agencies ("IDAs") and local development corporations ("LDCs") will be subject to prevailing wage, effective January 1, 2022. A "Covered Project" is any construction work done under contract that is paid for in whole or in part out of public funds where the Read More »
In response to the coronavirus outbreak, the Department of Homeland Security and related agencies have closed or strictly limited many immigration-related services, but emergency services continue and some applications are still being processed. The following is an overview of the current immigration services. USCIS Offices Closed through at least May 3, 2020 USCIS initially cancelled Read More »
Ryan Suser, a Member and Litigation Attorney in the firm’s Trust's and Estates / Elder Law Practice, defeated a motion for summary judgment against several individual clients. The case is brought by a nursing home against several relatives of the nursing home's resident, who recently passed away. Among other things, the complaint seeks to "claw Read More »
In response to the COVID-19 health crisis, the New York State Department of Health issued statewide directives on March 21, 2020 to counties across the state as to how they should be addressing certain situations specifically with respect to Medicaid eligibility and enrollment. To be more specific, the Department of Health issued guidance in the Read More »
On Wednesday, March 18, 2020, President Trump signed the Families First Coronavirus Response Act (the “FFCRA”), effective April 1 through December 31, 2020. The FFCRA seeks to assist employees impacted by COVID-19 and covers employers with less than 500 employees and certain public agencies. This summary is focused on the Emergency Family and Medical Leave Read More »
With the current physical distancing measures and widespread business closures throughout New York State due to the continuing health crisis with the spread of COVID-19, the legal and business industry faced a serious impediment to business. Many legal documents requiring notarization services for signatures were threatened due to the inability or fear of individuals meeting Read More »
In response to the mandatory non-essential business closures throughout New York State due to the continuing health crisis presented by COVID-19, the Governor issued Executive Order 202.11 ("EO 202.11") on March 27, 2020. EO 202.11 provides, in part, for the Authorities Budget Office ("ABO") to disregard certain reporting and other deadlines under the New York Read More »