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Section 230(c)(1) of the Communications Decency Act (codified at 47 U.S.C. § 230 (“Section 230”)) has long been credited for the boom of user generated content on the internet — the crux of social media that has driven the online environment for decades.
On April 22, 2021, the Supreme Court limited the Federal Trade Commission’s ability to seek restitution or disgorgement under Section 13(b) of the FTC Act.
On March 11, 2021, President Biden signed the American Rescue Plan Act into law.
On January 1, 2021, the National Defense Authorization Act (NDAA) for Fiscal Year 2021 became law. Section 6501 of the NDAA includes amendments to the Securities Exchange Act of 1934 (the “Exchange Act”), expanding the Securities and Exchange Commission’s (the “SEC”) ability to obtain disgorgement and other equitable relief in cases involving securities fraud.
On June 5, President Trump signed into law the Paycheck Protection Program Flexibility Act of 2020 (“PPP Flexibility Act”). Though several Senators had raised concerns about the House bill, ultimately the Senate passed the House version with no changes, avoiding negotiations on a final bill.
On May 5, 2020, the Department of the Treasury and the Small Business Administration (“SBA”) extended the safe harbor for repaying Paycheck Protection Program (“PPP”) loans from May 7 to May 14, 2020.
After over a month of furloughing, you are ready to call your furloughed employees back to work, only to be surprised by employees who tell you, “I won’t come back right now, unemployment is too good.”
On April 30, 2020, the IRS released guidance disallowing deductions for otherwise deductible expenses if payment of the expense results in forgiveness of a covered loan under the CARES Act.
On April 23, 2020, the Department of the Treasury (“Treasury”) and the Small Business Administration added FAQ 31 to the Frequently Asked Questions (“FAQs”) on Paycheck Protection Program (“PPP”) loans.
The U.S. Congress passed legislation to increase funding for coronavirus relief programs on Thursday, April 23, 2020.
Companies should consider notifying their insurers of business interruption losses in the wake of the COVID-19 crisis.
The roughly $2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act) passed on March 27, 2020 includes temporary modifications to the Internal Revenue Code intended to provide economic relief and increased liquidity to those affected by the COVID-19 pandemic.