News & Insights
New Executive Order August 3, 2020 – Hiring Practices of Employers with Federal Contracts or Sub-Contracts Under Scrutiny
The president today ordered executive department and agency review of the use of foreign workers to perform certain government contracts in 2018 and 2019 to determine whether opportunities for US workers were affected. Learn more about this order.
On June 22, 2020, the president issued a new proclamation suspending entry into the United States for additional categories of employees and executives and extending the prior proclamation of April 22, 2020. The new proclamation is broad, and purports to eliminate employment authorization for many already in the U.S. under certain circumstances.
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
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
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.
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.
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.