Events

CARES Act Webinar: Latest Developments and Insights

April 3, 2020 | | Webinar

Photo of Attorney Nanette Heide

Nanette Heide

Photo of Attorney Sandra Stoneman

Sandra Stoneman

Photo of Attorney David Sussman

David Sussman

Photo of Michael Gillen

Michael Gillen

Photo of Steve Packer

Steven Packer

Photo of Attorney Timothy Collins

Timothy Collins

Photo of Attorney Meagan Garland

Meagan Garland

Duane Morris Institute will present a webinar, "Coronavirus Aid, Relief, and Economic Security Act Webinar: Latest Developments and Insights," to be presented on Friday, April 3, 2020, from 1:00 p.m. to 2:40 p.m. Eastern.

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About the Program

The Coronavirus Aid, Relief and Economic Security Act (CARES Act) is the largest stimulus package in American history, providing $2 trillion in essential financial and medical assistance to industries, businesses and individuals affected by this global crisis. Since the early stages, the Duane Morris COVID-19 Strategy Team has been closely monitoring developments and advising clients on the complex legal issues and far-reaching implications of the pandemic. This webinar will review the key provisions of the CARES Act outlined below.

1. Small Businesses and Paycheck Protection Program

Presented by: Nanette Heide and Sandra Stoneman

Small business benefits and protection were at the heart of the CARES Act, specifically with the new Paycheck Protection Program and the Keeping American Workers Paid and Employed Act.

2. Taxes for Private Equity Firms and Portfolio Companies

Presented by: David Sussman

Coupled with IRS Notice 2020-18, the CARES Act further changes this year’s tax landscape. Net business interest deductions, noncorporate tax payments and employee wages are a few of the issues that the Act will alter.

3. Key Individual Provisions

Presented by: Michael Gillen and Steven Packer

We will cover the important individual provisions of the CARES Act and recent IRS Notices that will have a meaningful impact on high-net worth taxpayers and their families, executives, investors, among others.

4. Employee Benefits and Executive Compensation

Presented by: Timothy Collins

The CARES Act contains a number of provisions that will impact an employer’s qualified retirement plans and executive compensation arrangements. Employers are encouraged to identify the provisions of the Act that will help their employees and implement them.

5. Labor and Employment Relief and Restrictions Aspects

Presented by: Meagan Garland

The CARES Act is unprecedented in many ways, including the protections it affords various nonemployee segments of the workforce, such as gig-economy workers, sole proprietors, independent contractors and the self-employed, who never have had many of the protections afforded employees. Equally significant is the relief immediately available to employers to incentivize employee retention, but employers must act quickly and decisively and with an understanding of the restrictions that attach to the potential relief, including relative to laying off or furloughing employees.