News

COVID-19 Update: Gov. Wolf Renews COVID-19 Disaster Declaration

access_time Posted on: September 13th, 2020

On September 1, 2020, Governor Tom Wolf signed a second renewal of the 90-day disaster declaration for the COVID-19 pandemic. The emergency was originally declared on March 6, and this action is the second 90-day extension. The declaration extends protections for individuals and businesses during the ongoing pandemic. Protections include additional unemployment compensation, restrictions on eviction, an extension of licensing, and benefits for care workers and others who provide life-sustaining services to children, senior citizens, and other vulnerable residents.Act 15 Provisions Extended. Also extended are the provisions of Act 15 of 2020, under which municipalities can continue to take steps to assure safety… read more »

COVID-19 Update: CDC Issued an Order Preventing Evictions in Certain Cases

access_time Posted on: September 8th, 2020

The CDC has issued an Order preventing evictions in certain cases which went into effect on September 4, 2020.  In order to obtain protection under the Order, Tenants must provide a declaration to the landlord or property owner, under penalty of perjury.   Tenants must swear that they have tried to obtain government assistance, must fall within income restrictions set forth in the Order, and must be unable to pay rent due to loss of job or income or due to medical bills.  Tenants must also be making timely payments as close to regular rent as possible and show that eviction… read more »

Bankruptcy Exemptions

access_time Posted on: September 7th, 2020

Many people believe that personal bankruptcy, whether Chapter 7 or Chapter 13, will cause them to lose significant assets. While in some cases people may want to surrender assets, it is a rare case where people are forced to give up assets that they otherwise wish to retain. Retaining Your Residence and Non-Residential AssetsUnder Federal exemptions, each debtor can retain a residence with up to $25,150.00 in equity. For a married couple, all of these exemptions are doubled, such that a married couple can keep up to $50,300.00 worth of equity in their residence. “Equity” is the difference between the fair… read more »

COVID-19 Update: Deferral period for the Employee Portion of the Social Security Withholding Tax Begins Today

access_time Posted on: September 1st, 2020

Beginning today, employees within a certain pay threshold have the option to defer their Social Security witholding tax. The optional deferral period for the employee portion of the Social Security withholding tax (6.2%) is September 1st – December 31st. The deferral option is restricted to employees whose wages are less than $4,000 pre-tax during a bi-weekly pay period.  Guidance was issued late on Friday, August 28th by the Treasury and IRS (follow the link below). IRS and U.S. Treasury Guidance Employee payroll taxes include two separate taxes: Social Security and Medicare. These two taxes together are known as FICA (Federal Insurance Contributions Act) taxes… read more »

COVID-19 Update: Interim Final Rule Regarding Owners Compensation and Limitations on Forgiveness Eligibility

access_time Posted on: August 27th, 2020

The Treasury released a new Interim Final Rule (IFR) regarding owners compensation and limitations on forgiveness eligibility (see link below). PPP – Treatment of Owners and Forgiveness of Certain Nonpayroll Costs Owner Compensation. Owner-employees with less than a 5% ownership interest in a C or S-corp are not subject to the owner-employee compensation rules.   There are no exceptions to this rule, since the Treasury has determined that owners with less than 5% ownership have no “meaningful ability to influence decisions over how loan proceeds are allocated”. Compensation Limitations. The amount of loan forgiveness requested may not include business operations of… read more »

COVID-19 Update: Overview of SBA PPP Loan Forgiveness Platform for Lenders

access_time Posted on: August 27th, 2020

Small Business Administration (SBA) lenders have the opportunity to review the basics of PPP loan forgiveness and the SBA’s PPP Loan forgiveness platform on Thursday, August 27, 2020, at 11:00 a.m. On that day, the Federal Reserve System, Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), Conference of State Bank Supervisors (CSBS), and the National Credit Union Administration (NCUA) will host an interagency webinar for all SBA lenders who participated in the SBA PPP lending program.  During the webinar, interagency officials will give an overview of the SBA Paycheck Protection Program (PPP) Loan Forgiveness Platform. Provide… read more »

Best Lawyers Names Larry Young a Top Lawyer in America

access_time Posted on: August 21st, 2020

Best Lawyers® announced the 27th Edition of The Best Lawyers in America© on August 20, 2020. Lawyers named to The Best Lawyers in America publication were recognized by their peers in the legal industry for their professional excellence. For the 2021 Edition of The Best Lawyers in America, 9.4 million votes were submitted. We are delighted that Larry was among those to achieve this very special recognition. Best Lawyers is the oldest and most respected lawyer ranking service in the world. Best Lawyers lists are published in leading local, regional, and national publications across the globe. Congratulations, Larry, on this… read more »

York County Launches its Open Space and Land Preservation Grant Program

access_time Posted on: August 19th, 2020

The York County Planning Commission (YCPC) has announced the launch of the County’s Open Space and Land Preservation Grant Program. The program is funded with County tax dollars and is designed to support open space preservation, resource protection, and outdoor recreation, with the objective of assisting the County to achieve its goal of preserving worthy York County land. Funds for Local Preservation  The program is open to York County municipalities and non-profit organizations which support open space preservation and natural resource protection. Funds can be used for acquisition of property; but funding does NOT support the purchase or construction of improvements on properties.  The… read more »

What to Know About Bankruptcy

access_time Posted on: August 11th, 2020

Join York County Economic Alliance and CGA Law Firm for a Leadership Webinar on bankruptcy. CGA Law Firm’s experienced Bankruptcy Attorneys Larry Young and Brent Diefenderfer provide an overview on bankruptcy law and procedures for a business or an individual considering a filing. Please follow the link below to access the webinar on Business Bankruptcy. Please follow the link below to access the webinar on Personal Bankruptcy. To learn more about Bankruptcy and Debt Restructuring, visit our website. AttorneyBrent C. Diefenderfer is a shareholder with CGA Law Firm.  Brent is a board certified Consumer Bankruptcy Specialist by the American Board of Certification and is one of only… read more »

COVID-19 Update: SBA Released FAQs Today Regarding PPP Loan Forgiveness

access_time Posted on: August 4th, 2020

The SBA just released additional guidance on Paycheck Protection Program (PPP) Loan forgiveness in the form of Frequently Asked Questions and answers. The PPP resumed accepting applications July 6, 2020, and will continue until August 8, 2020. The SBA will forgive loans if the funds are used for employee retention and eligible expenses.  FAQs about PPP Loan Forgiveness (8/4/2020) Loans used for payroll costs, rent, interest on mortgages, and utilities will be fully forgiven. (At least 60% of the forgiven loan must have been spent on payroll.) Other important details include: –    PPP loans have a 1% interest rate and payments will be… read more »