IRS provides answers about Coronavirus related tax relief for Qualified Opportunity Funds and investors
The Internal Revenue Service today provided guidance for Qualified Opportunity Funds (QOFs) and their investors in response to the ongoing Coronavirus Disease 2019 (COVID-19) pandemic. Notice 2020-39 (PDF) answers questions regarding relief from certain requirements under section 1400Z-2 of the Internal Revenue Code (Code) and the implementing regulations. Additionally, the IRS has updated the Qualified Opportunity Zones frequently […]
IRS provides answers about Coronavirus related tax relief for Qualified Opportunity Funds and investors
The Internal Revenue Service today provided guidance for Qualified Opportunity Funds (QOFs) and their investors in response to the ongoing Coronavirus Disease 2019 (COVID-19) pandemic. Notice 2020-39 (PDF) answers questions regarding relief from certain requirements under section 1400Z-2 of the Internal Revenue Code (Code) and the implementing regulations. Additionally, the IRS has updated the Qualified Opportunity Zones frequently […]
BURZICHELLI AND JOHNSON BILL TO ALLOW RESTAURANTS AND BARS TO SERVE FOOD AND ALCOHOLIC BEVERAGES AT OUTDOOR TABLES IN CERTAIN PUBLIC SPACES CLEARS ASSEMBLY PANEL
Restaurants, bars and breweries would be allowed to sell food and drinks, including alcoholic beverages, to patrons dining at outdoor tables set up in parking lots, on local roads or in other public rights-of-way that have been approved by the respective municipal or county government under a bill approved by the Assembly State and Local […]
NJDOL Issues Unemployment Guidance As Work Reopens Amid COVID-19
The New Jersey Department of Labor and Workforce Development (NJDOL) has issued unemployment guidance to help New Jersey workers and business owners understand unemployment law as the state’s economy reopens amid the COVID-19 pandemic. The document provides answers to workers’ many questions about unemployment — as it relates to workplace health and safety protections, and caregiving. It also offers guidance for employers. The information, including a downloadable document, can be found at nj.gov/labor. Download the document here. “There are […]
SBA and Treasury Announce New EZ and Revised Full Forgiveness Applications for the Paycheck Protection Program
Today, the U.S. Small Business Administration, in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020. In addition to revising the full forgiveness application, SBA also published a new […]
Governor Murphy Announces Plan to Develop the New Jersey Wind Port: First Purpose-Built Offshore Wind Port in the U.S.
$300-400 Million Green Infrastructure Project Will Be The Biggest Investment in Salem County in a Generation and Has The Potential to Create Up to 1,500 jobs and $500 Million in Economic Activity Governor Phil Murphy today announced plans to develop the New Jersey Wind Port, a first-in-the-nation infrastructure investment that will provide a location for […]
As More Businesses Reopen, Worker Safety and Health Remains U.S. Department of Labor Priority
As more workplaces begin to reopen, the U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) is reminding employers that worker safety remains a priority amid both coronavirus and common workplace hazards. In all phases of reopening, employers need to plan for potential hazards related to the coronavirus, as well as those stemming from […]
Sarlo-Sweeney Bill would reduce Red Tape for Outdoor Restaurant and Bar Service, Support Local Business
To help hospitality businesses such as restaurants, bars, breweries and caterers survive the COVID shutdown and overcome ongoing financial challenges, the Senate today approved a bill sponsored by Senator Paul Sarlo and Senate President Steve Sweeney to reduce “red tape” requirements for outdoor service and help local business districts to regain economic activity. “We’re trying […]
SBA’s Economic Injury Disaster Loans and Advance Program Reopened to All Eligible Small Businesses and Non-Profits Impacted by COVID-19 Pandemic
To further meet the needs of U.S. small businesses and non-profits, the U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19 today. “The SBA is strongly committed to working around the clock, providing dedicated emergency assistance to the small […]
N.J. Department of Health Issues Guidance for Outdoor Organized Sports
The New Jersey Department of Health today issued guidance on COVID-19 health and safety protocols for outdoor organized sports activities which are set to resume as of June 22. The guidance permits practices and competitions for low-risk sports (golf, tennis) that do not involve contact, and modified no-contact practices for medium-risk (soccer, baseball, softball) and high-risk (football) […]