On Sunday December 27, 2020, President Trump signed the COVID relief package into law containing countless provisions addressing both pandemic relief and general funding for the federal government. The legislation ...
Beginning January 1, 2021, National Automated Clearing House Association (NACHA) has a new rule on enforcing egregious violations. An “egregious violation” is a willful or reckless action by a Financial ...
The IRS has posted a preview of the final regulations (TD 9930) which sets forth final regulations providing guidance relating to the life expectancy and distribution period tables that are used to ...
On November 3, 2020, California voters as part of the general election approved an initiative statute, California Privacy Rights Act of 2020 (CPRA), to amend and expand upon existing consumer ...
The National Credit Union Administration (NCUA) has issued guidance to credit unions serving hemp-related businesses, which were made legal under the Agriculture Improvement Act of 2018 (2018 Farm Bill).[1] The ...
The IRS issued Notice 2020-79 announcing the 2021 cost-of-living adjustments (COLAs) applicable to dollar limitations for employer-sponsored retirement plans, including individual retirement arrangements (IRAs). The annual contribution limit remains at ...
The IRS has released Revenue Procedure 2020-46 which modifies and updates Revenue Procedure 2016-47 which provides a list of permissible reasons for self-certification of eligibility for a waiver of the ...
On October 7, 2020 the Small Business Administration (“SBA”) added the following general FAQ #52 to the Paycheck Protection Program Loans (“PPP”) FAQ for Lenders and Borrowers. Question: The Paycheck ...
On October 2, 2020 the Small Business Administration (“SBA”) issued a Procedural Notice outlining what constitutes “Changes of Ownership” with respect to Paycheck Protection Program (“PPP”) borrowers, and the conditions ...
The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (the “Agencies”) adopted as final the interim rule ...