Pro Bono legal assistance is available for small businesses or non-profits with 25 or fewer employees in Connecticut.  As part of the nationwide program organized by Lawyers for Good Government, the Connecticut COVID-19 Small Business Virtual Legal Clinic was created and its mission is to help Connecticut’s entrepreneurs and small businesses that have suffered adversely

On Tuesday May 26, 2020, Treasury and the IRS issued final regulations to relieve certain tax-exempt organizations from reporting donor information on their IRS Forms 990. The final regulations largely adopt the proposed version of the regulations issued in September 2019. The final regulations only require 501(c)(3) and 527 organizations to continue to provide donor

On May 13, 2020, Governor Lamont issued Executive Order 7NN which temporarily permits Connecticut nonstock corporations to hold member meetings remotely.

Prior to issuing the executive order, a member meeting was required to be held in person at a predetermined location. Unlike meetings of directors or trustees, remote participation in a member meeting (such as

On June 5, 2020, the IRS issued Notice 2020-39 (the “Notice”), which announces various extensions of deadlines for Qualified Opportunity Funds (QOF) and their investors due to COVID-19 pandemic. A summary of the extensions that are set forth in the Notice are summarized below:

180-Day Investment Period

Generally, taxpayers must reinvestment capital gain in a

Recent coronavirus-related guidance from the IRS (Notice 2020-29, issued on May 12) aims to give Code Section 125 cafeteria plan (“cafeteria plan”) participants some relief from irrevocable group health benefit and health and dependent care flexible spending account (“FSA”) elections made prior to the pandemic.

Under Notice 2020-29, an employer who offers group health benefits

In Announcement 2020(7) the Department of Revenue Services (“DRS”) announced that it was extending the time that a taxpayer has to file certain administrative protests with the DRS’s Appellate Division in response to a notice of assessment or a proposed disallowance of a claim for refund.  In addition, the DRS has extended the time that

Under the new CARES Act, Congress has authorized the Paycheck Protection Program (“PPP”), pursuant to which forgivable loans can be made to certain qualified businesses in order to provide economic support during the COVID-19 pandemic.  A detailed discussion of the PPP program can be found here. One of the benefits of the PPP loan