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Feb 27, 2024 | Supreme Court to Rule on Estate Tax Valuation of Stock Purchased with Corporate-Owned Life Insurance Proceeds

If a shareholders agreement sets forth a fixed and determinable price that satisfies the requirements of Code Section 2703(b) and cases interpreting that term, then that price will be respected for federal estate tax valuation purposes. If it does no...

January 2024 | Protect your time and money from legal diligence through closing

"You've decided to sell, found the potential buyer, showed them the basics of your operation, let them review financials, agreed to basic terms and, finally, signed the letter of intent (LOI). That's an accomplishment on its own, but like most milest...

Dec 7, 2023 | New Federal Law to Create Reporting Requirements for Most U.S. Entities

Many entities across the United States are about to have increased reporting requirements starting January 1, 2024. After a long anticipated-wait, FinCEN, the Financial Crimes Enforcement Network, issued a final rule on the Beneficial Ownership Infor...

Apr 25, 2023 | Changes Underway for SBA 7(a) and 504 Loan Programs

Changes are coming to the Small Business Administration’s (SBA) 7(a) Loan Program and 504 Loan Program. In recent weeks, the SBA released two final rules that are set to become effective in May 2023. The SBA’s goal is to “aid, counsel, assist and pro...

March 2023 | The Speak Out Act Ends the Silencing of Sexual Assault Victims Through Nondisclosure and Non-Disparagement Agreements

On December 7, 2022, the Speak Out Act (“Act”) was signed into law by President Biden to combat sexual assault and sexual harassment in the workplace and ensure that victims and survivors are free to disclose their abuse. The Act renders judicially u...

Feb 13, 2023 | Think Early: How to Prepare for This Year’s New H-1B Filing Season

With a shortage of workers in many sectors of the U.S. professional labor market, employers continue to seek qualified candidates among the non-U.S.-citizen population, including recent graduates of U.S. colleges. Unfortunately, due to statutory l...

Jan 15, 2022 | Lessons learned while closing deals in a virtual environment

With most transactions operating semi-virtually before March 2020, the shift to remote work did not force a complete overhaul of the M&A process. However, it demanded a heightened emphasis on timing, communication of expectations and organization in...

May 24, 2021 | IRS Asks Major Crypto Exchange for Users’ Identities and Data

Earlier this month, the United States District Court, Northern District of California approved the Internal Revenue Service’s (IRS) request to execute a “John Doe” summons on the parent company of popular cryptocurrency exchange Kraken. The order dem...

Feb 15, 2021 | Ohio’s New Limited Liability Company Act – Revised Code Section 1706

The Ohio General Assembly recently passed a new Ohio Limited Liability Company (“LLC”) Act to replace the original LLC Act passed in 1994. Formally known as the “Enact Ohio Revised Limited Liability Company Act” (the “Act”), the Act was signed into l...

Feb 11, 2021 | Roetzel HealthLaw HotSpot: PPP Loans - Frequently Asked Questions

Roetzel HealthLaw HotSpot® is a podcast and YouTube channel for physicians and health professionals that covers the legal issues and trends that affect the health care industry. In this episode of the Roetzel HealthLaw HotSpot, hosts and Roetzel atto...

Jan 18, 2021 | G3 and Beyond: The Importance of Succession Planning for Multi-Generational Family Businesses

Jan 14, 2021 | Paycheck Protection Program Second Draw Opens for Small Businesses, Hotels, & Restaurants

Signed into law on December 27, 2020, The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act creates a second opportunity for businesses that have utilized the full amount of their First Draw Paycheck Protection Program (“PPP”) loa...

Jan 8, 2021 | Big Changes as Employers Prepare to Hire Foreign Workers

For employers seeking to hire foreign workers in the near future, the recent changes to the H-1B program and the presidential Administration will certainly present a lot of questions. On January 7, 2021, the U.S. Citizenship and Immigration Services...

Dec 31, 2020 | Congress Passes COVID-Related Tax Relief

On December 27, 2020, the President signed the Consolidated Appropriations Act, 2021 (“Act”). Within the Act’s 5,593 pages are two separate Acts that provide credits and other tax relief to taxpayers affected by the coronavirus: the “COVID-related Ta...

Dec 30, 2020 | Payroll Protection Act Provisions of the Recently Signed COVID-Related Tax Relief Legislation

On Sunday, December 27, 2020, the President signed into law the Consolidated Appropriations Act, 2021 (“Act”). Within the Act there are a number of provisions that affect current and future Payroll Protection Program (“PPP”) loan provisions that we h...

Oct 27, 2020 | Ohio Controlling Board Approves $420 Million in COVID-19 Relief Funding

On October 26, 2020, Ohio Governor Mike DeWine announced the Ohio Controlling Board has approved a Coronavirus Aid, Relief, and Economic Security (CARES) Act package of nearly $420 million. The relief package, which is intended to aid those financial...

Sep 18, 2020 | Directors & Officers May Face Personal Liability in Subsequent Litigation for Actions Taken During Company Insolvency

Attorney Christopher W. Tackett was recently featured in the Columbus Bar Association's Legal Connections insert in Columbus Business First. His article discusses potential liability for actions taken during company insolvency. 

May 21, 2020 | Small Business Administration Releases PPP Loan Forgiveness Applications

On Friday, May 15, the Small Business Administration (SBA) released Form 3508, Loan Forgiveness Application, with no additional guidance issued by the Treasury Department. Most were encouraged to see the forgiveness application. However, while the ap...

Spring 2020 | To Sandbag or Not to Sandbag, That is the Question

May 4, 2020 | Congress may Overturn IRS’ Position in Notice 2020-32 that Expenses Resulting in Paycheck Protection Program Loan Forgiveness are Not Deductible

On April 30, 2020 the IRS issued Notice 2020-32 which concluded that no deduction is allowed under the Internal Revenue Code (“Code”), for an expense that is otherwise deductible if the payment of the expense results in covered loan forgiveness under...

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