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 …
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 …
COVID-19: What Employers Need to Know For Now
The outbreak of COVID-19 has reached pandemic levels, prompting public and private action. Governments at all levels nationwide have issued emergency orders and resolutions establishing public health strategies and guidance for employers, communities and individuals to abide by during this time. Businesses are designing and implementing plans to prevent or minimize the spread of COVID-19 in the workplace with the hope that business operations can continue with minimal disruption. Even in the face of a pandemic, employers must pay attention to and comply with federal and state employment laws while making decisions that impact the health and wellbeing of their …