In light of the recent coronavirus pandemic, many businesses will inevitably be forced to reduce employees’ hours and thus their compensation. As a result, employees may be eligible to file for partial unemployment benefits.
The recent outbreak of the coronavirus (COVID-19) has implications specific to Rhode Island employers. On March 16, 2020, Governor Raimondo issued a directive that restaurants and similar businesses remain closed for eat-in dining.
The IRS has issued Notice 2020-15, allowing HSA-compatible high deductible health plans to provide coverage for testing and treatment of COVID-19-related services without an annual deductible requirement or with a lower annual deductible.
Whether a wrongfully dismissed employee is entitled to damages as compensation for the value of incentives that would have vested during the reasonable notice period is frequently litigated in Canada.
On February 20, 2020, the PR Treasury issued Internal Revenue Circular Letter No. 20-08 granting employers temporary income tax exemptions over payments and certain benefits made to employees and contractors related to the recent earthquakes.
The Puerto Rico Treasury Department has issued guidance providing special rules and procedures applicable to distributions from qualified retirement plans and individual retirement accounts following the recent earthquakes.
The Second Circuit recently considered for the first time whether the equitable remedy of reformation was available under ERISA absent an allegation of fraud, mistake, or inequitable conduct.
On December 28, 2019, the Puerto Rico Department of the Treasury issued Internal Revenue Circular Letter No. 19-17 announcing the applicable limits for Puerto Rico qualified retirement plans for 2020.
