On June 19, the Small Business Administration (SBA) published an update to its Interim Final Rules (New IFR) to reflect changes to the Paycheck Protection Program (PPP) put in place under the new Paycheck Protection Program Flexibility Act of 2020 (Flexibility Act). In addition, the SBA provided a new PPP Loan Forgiveness Application and Instructions as […]
Section 7(i) of the Fair Labor Standards Act (FLSA) provides an often overlooked, but useful, exemption to an employer’s overtime obligations for certain commission-based employees of retail and service establishments. However, to claim the exemption, employers must first determine: are they a “retail or service establishment?” Click here to continue reading.
On June 3, the United States Senate passed the “Paycheck Protection Program Flexibility Act” (Act), which is designed to create additional flexibility for borrowers under the terms of the Paycheck Protection Program (PPP). The Act previously passed the United States House of Representatives and now heads to the President for signature, which is expected in the […]
On May 22, the Small Business Administration published its long-awaited Interim Final Rule regarding loan forgiveness requirements (IFR) for the Paycheck Protection Program. The new IFR confirms several key terms included in the Loan Forgiveness Application and also provides some additional guidance. Click here for a summary of the forgiveness guidance as set forth in […]
On May 15, the Small Business Administration (SBA) published its long-awaited Loan Forgiveness Application and Instructions for Borrowers (Application). The Application clarified certain forgiveness rules and calculations for the Paycheck Protection Program, although there remain several open issues that we expect the SBA to continue to clarify through an additional Interim Final Rule and FAQs. Click here […]
As a result of the COVID-19 pandemic, most businesses were faced with making difficult decisions regarding their workforce. The U.S. Bureau of Labor Statistics reported that, in April, the unemployment rate rose to 14.7 percent totaling 23.1 million unemployed. While the number of new unemployment claims appears to be dropping, for the week ending May 2, 2020, […]
The United States Department of Labor updated its “model” notice of employees’ rights pursuant to the Families First Coronavirus Response Act (“FFCRA” or “Act”). This updated model notice must be posted or distributed to employees electronically in time for the FFCRA’s effective date of April 1, 2020. Click here for more information.
This week, the World Health Organization upgraded the global risk of the new coronavirus (COVID-19) to “very high” with over 83,000 cases being confirmed, including dozens in the United States. Employers are grappling with how to address the practical and legal concerns that have been created by this outbreak. Click here to read a Legal Alert that […]
On December 12, 2019, the U.S. Department of Labor (“DOL”) finalized a new rule that lets employers leave several perks, including tuition benefits, paid leave cash-outs, and some bonuses, out of the formula used to calculate employees’ overtime pay. According to the DOL’s press release, this new rule “marks the first significant update to the regulations […]
On September 24, 2019, the U.S. Department of Labor (DOL) announced a final rule to make an estimated 1.3 million American workers eligible for overtime pay under the Fair Labor Standards Act (FLSA). Check out Snell & Wilmer’s legal alert on the final rule here.
