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COVID-19 Legal Resources

Olshan Frome Wolosky LLP is gathering information related to COVID-19 issues and concerns to assist clients in navigating the national and New York states of emergency.

We will continue to prepare updates during this fluid situation. Clients and friends are encouraged to contact us with specific legal or operational questions or issues.

Photo of COVID-19 Legal Resources Stephen L. Ferszt sferszt@olshanlaw.com View Bio

Showing 10 posts by Stephen L. Ferszt.

Your Estate Tax Exemption - Use It or Lose It

Your estate and gift tax exemption - Use it or lose it. Planning opportunities in light of the Presidential election and the economic costs from the pandemic. There is still time to consider changes to your estate tax plan.  Read More ›

Tax Decoupling During COVID-19

New York State Decouples from certain provisions of the Coronavirus Aid, Relief, and Economic Security Act (P.L. 116-136) (CARES Act) for both corporate and personal income taxes.  This Client Alert discusses the impact of certain changes that taxpayers may encounter. Read More ›

The Continuing Reopening of New York – An Overview of Relevant New York, CDC, OSHA and EEOC Guidelines

As New York State continues to reopen businesses and the workplace, this Client Alert provides an overview of relevant New York State, Centers for Disease Control, Occupational Safety and Health Administration and Equal Employment Opportunity Commission guidelines to ensure the safety of employees and businesses as well as compliance with legal requirements.  Read More ›

COVID 19 Health and Welfare Benefit Plans Update

The Internal Revenue Service and the U.S. Department of Labor have issued guidance related to COVID-19 disaster relief that provides flexibility to health and welfare benefit plans. This client alert discusses temporary relief for time-sensitive events; changes to cafeteria plans; changes to high-deductible health plans; and miscellaneous health and welfare benefit plan changes.  Read More ›

Employee Benefits Update – DOL Guidance

One of the major challenges presented by COVID-19 is complying with time-sensitive deadlines. Following the lead of other agencies, the Department of Labor ("DOL") recently issued a notice (the "Notice") and FAQs providing deadline relief and guidance to employee benefit plans, sponsors, fiduciaries, participants and beneficiaries subject to the Employee Retirement Income Security Act ("ERISA"). This client alert explains the new guidelines and related considerations.  Read More ›

COVID 19 Estate Planning Strategies

COVID‑19, and the immediate and prolonged response to it, has disrupted the economy in countless ways, many of them negative. However, here are some personal financial planning opportunities which may be attractive under the COVID‑19 cloud. This client alert describes four strategies that may be advantageous considering factors discussed within the alert. Read More ›

Update – COVID-19 Hardship Distributions from Qualified Retirement Plans

As temporary furloughs and layoffs become more prevalent during the COVID‑19 pandemic, employees and employers are looking at the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) economic relief provisions to help with financial struggles. One such relief provision that was discussed in an earlier client alert is the COVID‑19 hardship distribution, which allows employees to withdraw up to $100,000 on a tax-favored basis from an eligible retirement account for expenses and losses resulting from COVID‑19. Read More ›

CARES Act Provides Significant Relief for Employee Benefit Plan Participants and Sponsors

Included in the recently enacted Coronavirus Aid, Relief, and Economic Security (“CARES”) Act are provisions that impact employee benefit plans that provide relief to plan participants and plan sponsors of qualified retirement plans. This client alert summarizes the provisions of Sections 2202, 2203, 3607 and 3608 of the CARES Act, which address employee benefit plans and the COVID‑19 pandemic. Read More ›

401(k) Strategies During the COVID-19 Pandemic

COVID-19 has adversely affected the economy. Understandably, many Americans may be facing cash flow problems and employers and employees alike may look to retirement plans as a means to help make ends meet. Federal and state officials are responding to the crisis through a variety of law proposals that have impacted general employment practices, health and welfare benefit plans as well as qualified retirement plans. This client alert addresses the key aspects of employees’ and employers’ alternatives when looking to 401(k) plans for immediate liquidity. Read More ›

COVID-19 Employment Practices and Employee Benefits

Employers throughout the country are dealing with the nearly unprecedented disruption that COVID-19 is causing to their businesses and their employees. Over the past several weeks, Olshan’s employment practices and employee benefits groups have been working with companies to provide solutions to difficult issues that have arisen. Read More ›

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