On Wednesday March 25, 2020, the Ohio General Assembly passed emergency COVID-19 legislation known as Sub. H.B. 197 (“the Bill”). Governor DeWine quickly issued a statement applauding bipartisan work on the Bill and pledging to sign it soon. On Friday March 27, 2020, Governor Dewine signed the Bill into law during his now daily press conferences. Significantly, the Bill provides that a number of deadlines that were set to expire between March 9, 2020 and July 30, 2020 are tolled, including the following: 1. A statute of limitations, as follows: (a) For any criminal offense, the applicable period of limitations …
DOL Issues Initial Guidance on Families First Coronavirus Response Act
On March 24, 2020, the U.S. Department of Labor (“DOL”) issued its first form of guidance on the leave provision contained in the Families First Coronavirus Response Act (“FFCRA”) passed last week. The DOL notes that it will also be promulgating official new regulations in the coming days. The entire DOL Q&A is linked here: https://www.dol.gov/agencies/whd/pandemic/ffcra-questions. One of the significant questions addressed by the DOL is when and how employers should count employees to determine whether they fall within the “under 500” requirement for purposes of coverage under the FFCRA. According to the guidance, employers should calculate total “head counts” …
Coronavirus Unemployment Update
Last week, Ohio Governor Mike DeWine issued an “emergency declaration” expanding and clarifying eligibility for unemployment benefits during the current COVID-19 (“coronavirus”) pandemic. Specifically, unemployment benefits are now available for eligible individuals who are requested by a medical professional, local health authority, or employer to be isolated or quarantined as a consequence of coronavirus, even if they are not actually diagnosed with coronavirus. In addition, the standard one-week waiting period for unemployed individuals seeking unemployment benefits is being waived for this situation. If an employer discharges employees due to a loss of production caused by the coronavirus, employees will be …
COVID-19 Helpful Links
The COVID-19 situation is moving fast, and there are numerous ways to obtain information. Click here if you are interested in the world-wide map of infections published by Johns Hopkins University or review information available from the World Health Organization (www.who.int) or the United States Centers for Disease Control (www.cdc.gov). Is your business considered “essential” to U.S. national interests in cybersecurity and infrastructure? Review the March 19, 2020, U.S. Department of Homeland Security, Cybersecurity & Infrastructure Security Agency (“CISA”) Memorandum on Identification of Essential Critical Infrastructure Workers During COVID-19 Response that you can find here [https://www.cisa.gov/publication/guidance-essential-critical-infrastructure-workforce#download ] To view the …
Urgent Planning Suggestions in a Downturn
While COVID-19 wreaks havoc today, Coolidge Strategic | Advisory Services (/strategic-advisory/) is thinking about your future and what you can do to protect it. In these situations, it is critical that businesses approach the dynamic environment like they were in a turn-around: Assess, Plan, Manage Cash, Communicate, Execute and Review. For an overview see: COVID-19: Urgent Two-Step Planning.pdf or contact us to discuss the planning process and tools for cash flow management and contingency planning in a difficult environment. For additional helpful information take a look these links: Projecting Cashflow in Distressed Situations (Stout.com); Reassessing Cashflow in Light of COVID-19 …
COVID-19: Relevant Tax Information
Information relating to COVID-19 is moving at a very fast pace – changing daily, if not hourly. Here are some links you can check for more up-to-date information as things change: IRS Coronavirus Updates: https://www.irs.gov/coronavirus State of Ohio link: https://coronavirus.ohio.gov/wps/portal/gov/covid-19/ As of March 20, 2020, here is a summary of some of the relevant tax issues relating to the coronavirus (COVID-19): Payment and Filing Deadline Federal income tax filing and payments that were due without extension on April 15, 2020 have been automatically extended to July 15, 2020. (Notice 2020-17, IRB 2020-15) The IRS has provided an extensive Q&A addressing …
Ohio Health Director Issues “Stay at Home Order” Dated March 22, 2020
On Sunday, March 22, 2020, Governor DeWine announced a new “Stay at Home Order” issued by Ohio Health Director Amy Acton, MD, MPH (the “Order”). In addition to severely restricting the ability of individuals in Ohio to leave their residences for two weeks, the Order contains specific and dramatic instructions to Ohio employers on managing their workforces. The employment-related restriction in the Order includes numerous exceptions. Below are details concerning the Order and its impact on essentially all private businesses in the state. Effective date: March 23, 2020 at 11:59 PM. End date: April 6, 2020 at 11:59 PM (unless …
New Law: Families First Coronavirus Response Act
On the evening of March 18, 2020, President Trump signed into law a significant legislative response affecting employers and workers coping with the COVID-19 (“coronavirus”) pandemic. The Families First Coronavirus Response Act (the “Act”) contains two separate but related provisions. First, the Act provides for Emergency Paid Sick Leave (“EPSL”) to be provided to employees and paid for by employers in certain situations. Second, it provides for an Emergency Family and Medical Leave Expansion (“EFMLE”), which expands coverage of the existing FMLA to specific situations related to the pandemic. Both provisions are subsidized through certain reimbursements available to employers (including …
Tax Issues for Election 2020
With Ohio’s primary election postponed until June 2nd, and with a much narrower field of candidates, maybe it’s time to take a closer look at one of the more important topics of the election, and one that is quite frankly many times overlooked – what is each candidate’s tax plan? While all the candidates promise to do what is best for us, federal tax policy may ultimately be the item that impacts our pocketbooks the most. Everyone knows the old adage “in this world nothing can be said to be certain, except death and taxes.” That includes you COVID-19! Assuming …