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Buyers and Sellers Experience Impact of Coronavirus on M&A Activity

Buyers and Sellers Experience Impact of Coronavirus on M&A Activity

Buyers and sellers are walking away from deals for various reasons, including changing deal conditions and higher levels of uncertainty, as parties on both sides try to figure out the extent of the pandemic’s impact. Buyers and sellers alike are turning their attention to their own companies in an effort to minimize losses and handle difficult employment decisions, and as a result, M&A activity is adversely impacted.

PPP Loan Forgiveness Application and instructions released by SBA + IRS issues draft Employee Retention Credit Form

PPP Loan Forgiveness Application and instructions released by SBA + IRS issues draft Employee Retention Credit Form

On May 15, 2020, the SBA and Treasury issued the PPP application form to request forgiveness of loans under the PPP program.  As announced, the SBA will be issuing additional regulations and guidelines for borrowers to complete the application and to instruct lenders on their duties.

Treasury updates “good faith certification” guidance – new, FAQ 46 and Washington DOR loan forgiveness reporting on B&O returns

Treasury updates “good faith certification” guidance – new, FAQ 46 and Washington DOR loan forgiveness reporting on B&O returns

Two bits of good news for businesses affected by COVID: 1.  Treasury updates “good faith certification” guidance with new, FAQ 46, and 2. Washington DOR says loan forgiveness should not be reported on B&O returns until further notice.

Proposed HEROES Act

Proposed HEROES Act

Today, House Democrats released the Health and Economic Recovery Omnibus Emergency Solutions Act, or “HEROES Act” which proposes spending of more than $3 trillion in additional COVID-19 relief. 

Executive Order Suspending Immigration: Who is Affected and Who is Not

Executive Order Suspending Immigration: Who is Affected and Who is Not

Late Wednesday the president issued an executive order limiting the issuance of immigrant visas at U.S. consulates abroad. This article reviews exactly who is—and who is not—subject to the order. With notable exceptions, those most affected are nearly all categories of business-based immigration and most family-based immigrants.

Construction Industry Leads Reopening of Washington State

Construction Industry Leads Reopening of Washington State

Today Governor Inslee announced Phase I of a multi-phase reopening plan allowing existing low risk construction projects to resume work. This includes commercial, residential, and public work projects. With the Phase I reopening plan, we begin the highly anticipated process of reviving the economy, getting cranes in the air, and people back to work.  As we move forward, there are important requirements contractors need to address for each project site.

When Will H1-B Petitions Get Receipt Notices, Be Processed, and Notifications Made?

When Will H1-B Petitions Get Receipt Notices, Be Processed, and Notifications Made?

On April 13, 2020, US Citizenship and Immigration Services (USCIS) announced delays in entering data and generating receipt notices for FY 2021 Cap-subject H-1B petitions until “at least” May 1, 2020.  Due to delayed data entry and notice generation, there will be a general delay in processing FY 2021 cap-subject petitions. USCIS advises it is, “mindful of petitions with sensitive expiration and start dates, such as cap-gap petitions, and will strive to process these petitions as efficiently as possible.”

What Should You Do if Your Visa Status is Expiring, and You Can’t Leave the US?

What Should You Do if Your Visa Status is Expiring, and You Can’t Leave the US?

The COVID-19 crisis and the associated suspension of many international flights are impacting many people in the US under a variety of visas which require that a person leave the US by a certain date.  The steps to take to seek to extend a period of stay vary according to the type of status held, and the government’s policies being adopted in response to the COVID-19 crisis.

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