On December 21, 2020, the United States Congress passed the Consolidated Appropriations Act, 2021 (the “Act”). President Trump is expected to sign the Act. Significantly, the Act specifies that business expenses paid with forgiven Paycheck Protection Program (PPP) loans are tax-deductible. This supersedes IRS guidance that such expenses could not be deducted if the taxpayer […]
Posted on
December 9, 2020
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Congratulations to the following Weston Hurd attorneys named 2021 Ohio Super Lawyers and Ohio Rising Stars by Super Lawyers, a Thomson Reuters business. Attorneys are selected using a patented multiphase process that combines peer nominations, evaluations, and professional achievements with third-party research to create a credible, comprehensive, and diverse listing of outstanding attorneys.
Weston Hurd LLP is pleased to announce that its Cleveland and Columbus offices are recognized in the U.S. News/Best Lawyers® 2021 “Best Law Firms” list in both national and metropolitan categories. According to U.S. News/Best Lawyers®, achieving a “Best Law Firms” ranking involves a rigorous evaluation process that includes the collection of client and lawyer evaluations as […]
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December 4, 2020
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Ohio’s General Assembly recently enacted two additional civil immunity provisions (House Bill 606 and House Bill 151) in connection with so-called “healthcare isolation centers” and “emergency medical services” in the context of COVID-19. A “healthcare isolation center” is a center monitored by the Ohio Department of Health caring for patients with COVID-19-related infirmities. Civil immunity from suit for these centers is […]
Posted on
November 25, 2020
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Congratulations Weston Hurd partners Steve Carlino and Dan Richards on their election to the 2021 Board of Trustees of the Ohio Association of Civil Trial Attorneys (OACTA). The OACTA news release can be found by clicking: 2020 – OACTA Elects 2021 Officers and Trustees
On November 18, 2020, the IRS released Rev. Rul. 2020-27 and Rev. Proc. 2020-51 providing desperately needed guidance on the timing issues related to Paycheck Protection Program (PPP) loan forgiveness and the deductibility of the related PPP expenses. Revenue Ruling 2020-27 In the guidance, the IRS confirms that a taxpayer may not deduct the PPP […]
On October 2, 2020, the Small Business Administration (SBA) issued a much-awaited notice clarifying the procedures for change of ownership for entities that have received Paycheck Protection Program (PPP) funds. The SBA issued a Procedural Notice, detailing required procedures impacting PPP borrowers and lenders if: (i) twenty percent or more of the common stock or other ownership interest […]
Posted on
October 2, 2020
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News,
Real Estate
Effective September 15, 2020, purchasers of real property who meet the requirements to avoid environmental liability under the Federal Comprehensive Environmental Response Compensation and Liability Act (“CERCLA”) will also automatically satisfy those requirements and avoid environmental liability under Ohio law. Ohio has enacted Section 3746.122 of its Revised Code which essentially provides that if a […]
