As businesses continue to traverse the unchartered waters created by the COVID-19 outbreak across the country, the law constantly is evolving, and employers must grapple with new limitations created by both Congress and state and local governments on what seems like a daily basis. Employers must take care to learn, understand, and comply with the emergency legislation being passed at all levels of government. In so doing, employers must remain mindful of the penalties and…

The federal government is only beginning to develop the system to issue the stimulus payments authorized by the CARES Act (Coronavirus Aid, Relief, and Economic Security Act). Scammers, however, are already trying to steal money from Americans. The FBI, multiple state attorneys general, and other agencies are warning Americans not to fall for phone calls, emails, texts, or websites that ask for personal or financial information in order to receive the stimulus payment.…

On March 8th, Mayor De Blasio announced New York City will provide two forms of relief for small businesses across the City seeing a reduction in revenue due to COVID-19. Below are summaries and eligibility requirements for the two programs.…

The federal government has provided new hope for employees affected by the novel coronavirus pandemic by way of an economic stimulus package that includes, among other things, enhanced unemployment benefits. On Friday, March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES” Act), which expands the situations in which an employee is eligible to receive unemployment compensation. In addition, the CARES Act provides an enhanced unemployment benefit to…

The New Jersey Economic Development Authority (NJEDA) has approved a series of aid packages for small/mid-size businesses in the amount of $75 million, which could grow to $100 million depending on matching grants. The NJEDA programs focus on businesses that have been hit the hardest by COVID-19. The initiatives include a grant program for small businesses, a zero-interest loan program for mid-size companies, support for private-sector lenders and a variety of resources providing technical support.…

As of Friday March 27th, the US Congress has voted to advance the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), that will create an estimated $2 trillion emergency relief package to aid millions of individuals, the public health sector, hard-hit industries, and small businesses effected by COVID-19. The CARES Act will allocate $350 billion to provide relief to certain businesses through 100% guaranteed Small Business Administration (SBA) loans, a portion of which…

The coronavirus pandemic, with its stay at home mandates and work restrictions, is hitting the economy hard. Community association boards and managers should anticipate adverse impacts in the collection of assessments as early as April and must be prepared to address these delinquencies.…