Bousquet Holstein PLLC is pleased to announce that Casey A. Johnson has joined the firm as an Associate Attorney. Casey practices in litigation, debtor and creditor law, secured transactions, and in particular with commercial litigation clients who undergo substantial financial distress. Prior to joining Bousquet Holstein, Casey was a Staff Attorney for the U.S. District Court for Read More »
Bousquet Holstein PLLC is pleased to announce that Gwen Z. Gou has joined the firm's Business Transactions and Taxation Practice Groups. Gwen participated in the Bousquet Holstein Summer Associate Program in 2013. Gwen is a graduate of Cornell Law School, where she was selected onto the External/International Moot Court Competition Team for two consecutive years and participated Read More »
Paul M. Predmore has been elected President of the Board of Trustees of the Loretto Foundation. Paul previously served as Secretary to the Board, and has volunteered his time at the Loretto Foundation for 3 years. A member of the Board of Managers at Bousquet Holstein, Paul focuses his practice on Tax Planning and Advocacy, Read More »
In mid-May, the United States Trade Representative ("USTR") published a proposal to impose additional 25% tariffs on approximately $300 billion worth of goods imported from China ("List 4"), pursuant to Section 301 of the Trade Act of 1974. List 4 covers 3,805 full and partial tariff subheadings ranging from agricultural products to manufactured goods. A Read More »
On March 19, 2020, Syracuse Mayor Ben Walsh announced the creation of a $500,000 fund to provide interest-free emergency loans to small businesses in the City of Syracuse that have been adversely impacted by the novel coronavirus. The COVID-19 Emergency Relief Program will be administered by the Syracuse Economic Development Corporation ("SEDCO") and is intended 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 »
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 »
Federal legislation authorizing additional funding for employers, hospitals and healthcare providers confronting Covid-19 pandemic is effective April 24, 2020. The Paycheck Protection Program Increase Act of 2020 ("PPPIA") is the fourth piece of major federal legislation adopted in response to Covid-19. NOTE: The Payroll Protection Program resumes Monday, April 27th at 10:30 AM EDT. The SBA will resume Read More »
The Small Business Administration and U.S. Treasury Department responded to recent Congressional and media attention to businesses that received Paycheck Protection Program (PPP) loans. In public statements of Secretary Mnuchin and SBA's updated Frequently Asked Questions (FAQ) effective as of April 29, 2020, the government clarified its approach when auditing PPP loans. A loan audit Read More »
Across the country, businesses are reopening and adapting to the COVID-19 pandemic. In doing so, however, businesses must keep in mind new data security regulations from New York that could impact their operations. As of March 21, 2020, New York may penalize qualifying businesses that fail to implement "reasonable safeguards" over collected data or fail Read More »