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Paul Zimmerman
pzimmerman@mrllp.com
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Showing 5 posts from February 2021.

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Corporate Risk Disclosures in the Wake of the 2020 Election

With the recent changing of the guard in Washington, D.C., and coinciding with annual reporting and proxy season, comes the need for public companies across industries to reassess their risk disclosures—whether included in their registration statements for selling securities or SEC periodic reporting requirements. (Read More)

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Read the Fine Print: Congress Imposes New Reporting Requirements Upon Certain U.S. Business Entities

Despite veto drama, the William (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (NDAA) was enacted into law, and deep within its 1480 pages is a title—coined the Corporate Transparency Act (CTA)—that establishes new and more stringent reporting requirements. This represents but a small set of robust changes to U.S. anti-money laundering legislation that is part of the NDAA. (Read More)

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State Tax Treatment of Forgiven PPP Loans

For purposes of federal income taxation, existing federal law excludes from gross income any amounts of loans made pursuant to the Paycheck Protection Program that are forgiven. This is great news for borrowers, to be sure. But the question remains: how do the states treat forgiven PPP loans? (Read More)

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Back to Basics: Small Businesses Given Priority for PPP Loans

At the very heart of the Paycheck Protection Program, originally set forth as part of the CARES Act, was the push to help small businesses and other covered entities stay afloat and to incentivize them to keep employees on their payrolls despite coronavirus-related declines in business. The key word there is “small,” as amplified in an announcement made by President Joe Biden this week. (Read More)

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Can Your Boss Force You to Get a COVID Vaccine Shot?

With the Biden administration all-in on the inoculation of America, meaningful plans for widespread COVID-19 vaccine distribution and availability are taking shape. The Pfizer-BioNTech and Moderna offerings will surely be joined soon by Johnson & Johnson’s single dose vaccine, and FDA approval of the promising Oxford-AstraZeneca product, which may even halt the spread of the novel coronavirus, seems inevitable. (Read More)