As the end of 2020 mercifully approaches and the presidential election is now in the rearview mirror, Waller’s Financial Services Industry Team is looking forward to 2021 to bring you its insight into what the future may hold for participants in the financial services industry ...
2020 was already expected to be a challenging year for the retail industry and the worldwide pandemic only intensified the underlying troubles. Heading into the year, one estimate projected that 12,000 major chain stores would close in 2020. Today, a number of high-profile brands are in bankruptcy and tenants and landlords alike are struggling to recover from COVID-19 related closures ...
Commentators and lawyers continue to make blanket statements regarding lack of business interruption coverage for losses caused by the novel coronavirus (COVID-19). They contend that coronavirus-related losses cannot satisfy the “direct physical loss of or damage to [covered] property” language contained in many policies to trigger coverage in the first place ...
The House narrowly passed the Build Back Better bill on Nov. 19 with a vote of 220 to 213, after an overnight delay. The $1.75 trillion social spending bill includes the ability for Medicare to negotiate drug prices, new hearing benefits for Medicare beneficiaries, and extended Affordable Care Act subsidies. The bill will still have to pass the Senate, and Senate Democrats are expected to make revisions ...
Now that the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) has been signed into, law, small businesses may be wondering what they can do to get a Paycheck Protection Program (“PPP”) loan into their bank accounts as soon as possible so they can pay employees. In case you missed it, check out our bulletin here for a detailed description of the terms and conditions of and eligibility for these very favorable loans ...
While the Families First Act creates paid leave obligations for smaller employers, companies are able to apply for relief through applicable tax credits. Here's how to do it: Employers eligible for tax credits for paid leave provided under the FFCRA can report their total qualified leave wages and the related credits for each quarter on their federal employment tax returns, usually Form 941: Employer’s Quarterly Federal Tax Return ...
Zoom, the social platform which has become nearly ubiquitous in the past few weeks, has unintentionally introduced the world to a new term: “Zoom Bombing." Millions of people are struggling to maintain some semblance of normalcy as they continue to engage in personal and business interactions while simultaneously practicing social distancing during the COVID-19 pandemic ...
Mayor Cooper‘s announcement that he was closing bars in Nashville as a result of the coronavirus epidemic quickly went viral among locals. We have been hearing the same question from tons of bar owners: What do we do? We recommend that you serve food and provide a safe environment for your customers. If you have a decent food menu and loyal customers, become a restaurant in this time of need ...
On April 22, 2020, President Trump signed an Executive Order temporarily suspending the entry of certain immigrants into the United States. The Executive Order only affects foreign nationals who are currently outside the United States applying for permanent residence through the immigrant visa process at a U.S. consular post. Initially, the Executive Order will be in effect for 60 days, unless the administration determines that it should be extended ...
In light of the COVID-19 National Health Emergency, U.S. Citizenship and Immigration Services (USCIS) introduced temporary policies related to H-1B-sponsored physicians who are completing their three-year J-1 waiver service commitment requirements. The temporary policies relate to full-time work requirements and the ability of J-1 waiver-approved physicians to provide telehealth services ...
In the age of COVID-19, “irrevocable” doesn’t always mean “forever.” The IRS is providing significant tax advantages to companies that are now permitted to take back their once irrevocable elections regarding the deduction of interest expenses for improvements to non-residential real estate ...
On April 8, 2020, the IRS published Revenue Procedure 2020-23 (Rev. Proc. 2020-23) that provides partnerships a limited opportunity to amend their 2018 and 2019 tax returns and issue amended Schedule K-1s to partners to take advantage of the retrospective Coronavirus Aid, Relief, and Economic Security (CARES) Act changes ...
On March 30, the Department of Justice (DOJ) announced a major new initiative to target quality of care and fraud and abuse in elder care by forming 10 Elder Justice Task Forces throughout the United States. The DOJ intends to build these task forces on interdisciplinary teams – including Health Care Fraud Enforcement Action or HEAT Teams – already at work in several districts across the country. The teams include representatives from the U.S ...
The Affordable Care Act (ACA) has been one of the most sweeping, and most divisive, pieces of legislation related to healthcare in a generation. More ink has been spilled over enactment, constitutionality, and repeal than any other government healthcare program. With the election of Donald Trump, and a Republican-controlled Congress, the repeal of the ACA is all but assured ...
As the delivery of health care continues to evolve and hospitals bear additional pressures to adapt to new payment models, more nonprofit hospitals are partnering with for-profit providers, through a sale, joint venture, or other arrangements. Partnerships between independent nonprofit hospitals and larger health care systems (nonprofit and for-profit) have been growing over the past two decades ...
With COVID-19 numbers beginning to stabilize and some states announcing re-opening dates, many businesses are starting to see the light at the end of the tunnel. With that, many employers are asking key questions: What do we do to get ready and how do we do so without jeopardizing the safety of our workforce and our customers or clients? There is much to consider and there seems to be no crystal clear path forward for employers ...
The Department of Agriculture (USDA) announced in late February that it's delaying enforcement of certain requirements set forth in its Interim Final Rule (IFR) on the Domestic Hemp Production Program (84 FR 58522) under certain circumstances until October 31, 2021, or until publication of the final rule on such hemp production program, whichever occurs first ...
On February 10, 2022, the Senate passed the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act of 2021,H.R. 4445. It is expected to be signed by President Biden shortly. The Act did the seemingly impossible by passing on lopsided, bipartisan votes in both the House and Senate, befitting its odd-couple Senate sponsors: Kirstin Gillibrand (D-NY) and Lindsey Graham (R-SC) ...
Sunday morning, Tennessee Gov. Bill Lee issued an executive order limiting restaurants, bars and similar food or drink establishments to drive-through, carry-out and delivery service only. Read the order here. Restaurants, limited-service restaurants and wine-only restaurants can sell take-out and deliver alcoholic beverages and beer. There is no additional license or permission needed to deliver ...
As November drew to a close, two district courts changed the landscape for healthcare employers who were working towards the December 5 deadline to implement the CMS Interim Final Rule’s vaccination mandate. On November 29, a federal district court in Missouriissued a preliminary injunctionenjoining the Government from imposing and enforcing the CMS IFR ...
The White House has completed the final review to clear a path for the Department of Health and Human Services (HHS) to publish the final rule to modernize and clarify regulations promulgated for the Stark Law and Anti-Kickback Statute. In June 2018, HHS Deputy Secretary Eric Hargan announced a regulatory reform initiative entitled the “Sprint to Coordinated Care ...
On June 25, five federal regulatory agencies, including the federal banking agencies,[1] finalized changes to the Volcker rule that reduce margin requirements for derivatives trades and loosen restrictions on banking entities’ ability to invest in, sponsor or maintain certain relationships with hedge funds and private equity funds — known as “covered funds” under the Volcker rule ...
To the extent that there is such a thing as a “HIPAA Day,” it’s coming up soon. And, no, it’s not a HIPAA Holiday. Instead, March 1 is the deadline to report all HIPAA breaches of fewer than 500 affected individuals. HIPAA requires all breaches to be reported to the Office for Civil Rights (OCR) of the U.S. Department of Health and Human Services (HHS) ...
For the past several years, the healthcare industry has been targeted by union organizers hoping to add nurses, physical therapists and others to their ranks. In the first half of 2015, there were more than 150 union elections in the healthcare industry, with unions winning more than three-quarters of these elections ...
