November 23, 2020 – Alerts
An unprecedented explosion of government investigation and enforcement is at hand as federal regulators focus their efforts on ferreting out any fraud or abuse of the $1 trillion in COVID-19 relief funding programs through loans, grants and tax credits.
For pharma and bioscience companies, it is…
On October 26, the Small Business Administration (SBA) published a notice in the Federal Register seeking approval from the Office of Management and Budget to release two new forms to be sent to borrowers under the Paycheck Protection Program (PPP) in preparation for audits by the agency. Because these audits have…
By Marissa Koblitz Kingman
Since the pandemic began, the federal courts have been inundated with Compassionate Release applications from attorneys seeking the immediate or early release of clients in custody. Compassionate Release is indeed a feasible option for some people who are incarcerated or about to surrender to a federal prison. Because Compassionate Release is…
By Matthew S. Adams, Matthew D. Lee and Christopher J. Pippett
The Small Business Administration (SBA) has opened the portal for applications for forgiveness of Paycheck Protection Program (PPP) loans established under the Coronavirus Aid, Relief and Economic Security Act (CARES Act). The commencement of the loan forgiveness application process raises two important questions for…
By Matthew D. Lee and Marissa Koblitz Kingman
Shortly after the Small Business Administration began accepting applications for Paycheck Protection Program (PPP) loans, two Rhode Island businessmen quickly applied for a combined $543,881 from the program. A few days later, the Justice Department announced that both were criminally charged with conspiracy to make false statements
…
On March 25, 2020, following the onset of the COVID-19 pandemic, the IRS unveiled its People First Initiative to provide wide-ranging compliance relief to taxpayers experiencing hardships relating to the health crisis. This relief includes issues ranging from postponing certain payments related to Installment Agreements and Offers-in-Compromise to collection and limiting certain enforcement actions. The…
Following up our post earlier today that the Tax Court will resume receiving mail on July 10, 2020, the Tax Court has issued another announcement regarding its operations. Also beginning on July 10, the Clerk’s Office will accept hand-delivered documents between the hours of 8:00 AM and 4:30 PM, Monday through Friday.
Please check out…
Due to the COVID-19 pandemic, operations of the United States Tax Court have been severely impacted. The Tax Court’s building in Washington, D.C. has been closed since March 19, 2020, all trial sessions have been cancelled through the end of June, and all Tax Court employees, including judges, have been working remotely.
Due to the…
Our colleague Jana Volante Walshak has published an article addressing the steps that businesses can take now to protect themselves against qui tam actions related to the CARES Act Paycheck Protection Program. Many organizations may have thought the “hard part” was over when they received loans under the Paycheck Protection Program. In reality, the hard…
Our colleagues Oksana Wright and Charles DeMonaco have published an article in Corporate Compliance Insights discussing management and corporate compliance measures for companies to prioritize during the uncertainty posed by COVID-19 pandemic. You can read their article here.
Please check out Fox Rothschild’s coronavirus resource page, which is available here.
For more up-to-date…
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