Federal

Expert Analysis

• How 2021 Appropriations Law Changes Employer Benefits

  

  The Consolidated Appropriations Act signed into law in December makes a surprising number of changes to rules for employer-sponsored health and welfare benefits that will likely have a significant impact, especially the provisions concerning flexible spending accounts, say Eric Schillinger and Anne Hall at Hall Benefits Law.

• How Rebooted Paycheck Protection Program Works: Part 2

  Excerpt from Practical Guidance

  

  Attorneys at Cozen O'Connor analyze key provisions of the U.S. Small Business Administration's two new interim final rules regulating first-draw and second-draw loans under the reinstituted Paycheck Protection Program.

• How Rebooted Paycheck Protection Program Works: Part 1

  Excerpt from Practical Guidance

  

  Attorneys at Cozen O'Connor provide an overview of the recently reinstituted Paycheck Protection Program's provisions for new borrowers to receive loans and existing borrowers to receive additional funding, and the U.S. Small Business Administration's startup of the program.

• How To Reliably Value Income-Producing Real Estate

  

  Amid the pandemic-fueled surge in tax appeals and loan workouts, using the income approach to calculate the present worth of a property's future income provides the most reliable indication of value and does not rely on subjective adjustments, say Mark Dunec at FTI Consulting and Anthony DellaPelle at McKirdy Riskin.

• What New AML Law Means For Correspondent Banking

  

  In light of the National Defense Authorization Act’s recent overhaul of the Bank Secrecy Act and related anti-money laundering laws, foreign banks maintaining correspondent bank accounts in the U.S. should be aware of law enforcement's expanded authority to access bank records for their transactions, say attorneys at Arnold & Porter.

• Addressing The Security Risks Of University Foreign Funding

  

  Higher education institutions that accept foreign funding should address serious concomitant security risks by identifying specific sources and establishing compliance procedures that promote transparency, protect data and research, and account for U.S. national security interests, say attorneys at Manatt.

• Tips For Forming A Real Estate Fund

  

  Multi-asset real estate funds may provide investors with opportunities to deploy capital during the pandemic-induced market downturn, but several structural questions should be considered before raising a fund, say Matt Ertman and Max Brunner at Allen Matkins.

• 2 Cases Highlight Superpriority Lien Risks For Lenders

  

  Two recent decisions from a New York state court and a Nevada federal court reaffirm the importance of lenders paying off superpriority liens, which may extinguish their mortgages or deeds of trust if not swiftly addressed, say Michael O'Donnell and Michael Crowley at Riker Danzig.

• 4 Steps For Public Cos. Subject To New Executive Pay Rules

  

  To comply with recently finalized Internal Revenue Service regulations implementing the Tax Cuts and Jobs Act's $1 million cap on compensation deductions, employee benefit and tax executives at public companies should understand who their covered employees are and identify compensation agreements subject to the rules, say Samuel Krause and Teresa Abney at Crowell & Moring.

• IRS Continuity Safe Harbor Will Aid Renewable Projects

  

  Recent Internal Revenue Service guidance expanding the continuity safe harbor to protect tax credit eligibility for qualified offshore and federal land renewable energy projects will provide certainty for developers who often face significant construction and permitting delays, say attorneys at Mayer Brown.

• A Benefits Attorney's Role In Corporate Transactions: Part 2

  Excerpt from Practical Guidance

  

  In the context of a corporate transaction, employee benefits and compensation attorneys may need to consider the treatment of benefit plans, integration issues, the purchase agreement and agreements that extend beyond the closing, says Michelle Capezza at Epstein Becker.

• A Benefits Attorney's Role In Corporate Transactions: Part 1

  Excerpt from Practical Guidance

  

  Employee benefits and executive compensation attorneys must consider a spate of issues in the context of a corporate transaction, including the due diligence process and identification of plan-related liabilities, says Michelle Capezza at Epstein Becker.

• How Biden Administration Can Crack Down On Ransomware

  

  By using the novel prosecutorial tactic known as access theory, President-elect Joe Biden can initiate a 2021 offensive to stop ransomware, says John Stark at John Reed Stark Consulting.