COVID news for Taxpayers: Don’t worry about your FinCEN Form 114 (your FBAR) – it is not due until October 15, 2020 You may know that the FinCEN Form 114, Report of Foreign Bank and Financial Accounts (“FBAR”) is used to report a financial interest in or signature authority over a foreign financial account. The…

Virtually every business is suffering losses due to the coronavirus pandemic, and many are looking to their insurance policies in hopes of relief. Whether coverage will be available will depend on the types of policies in place, as well as the specific coverage wording and exclusions to each policy. Every insurance policy is different, and policyholders will…

COVID-19: Excuse of Contractual Performance under California Civil Code Section 1511 The pandemic related to COVID-19 and the economic impact resulting from various stay-at-home orders raises concerns of whether such circumstances can justify non-performance of certain contractual obligations including under leases, loans or commercial contracts. This memorandum addresses two possible defenses to excuse performance under California Civil…

While it’s sometimes said that one person’s failure to plan ahead doesn’t constitute an emergency for everyone else, but one couldn’t plan ahead for this current Coronavirus pandemic that now has indeed created an unprecedented, unforeseeable emergency with many scrambling to evaluate the consequences of a failure or inability to perform. In many ways, in…

Brad Hunter, managing director at RCLCO, writes in a March 24, 2020 article in Forbes that the effects of the economic slowdown caused by the novel coronavirus are “a serious threat to commerce, profits, jobs, and, ultimately, real estate. The duration of the downturn will be the key determinant of how long and in what ways…

As of March 21, 2020, various temporary restrictions affecting US borders and ports of entry have gone into effect. These travel bans were put in place to stop the spread of COVID-19 while trying to cause as little damage to the economy as possible. There are three categories of travel restriction currently in place; restrictions…

On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. The CARES stimulus package provides $2.2 trillion in emergency assistance to those impacted by the novel coronavirus. What follows is a brief description of the major provisions so that you may be aware of what is available to you in this…

The global pandemic raises a host of concerns for businesses and the executives they employ. Health and staffing issues are paramount but executives are particularly concerned about their job tenure and their compensation and companies have heightened concern about their viability. The typical tension between the interests of the parties is exacerbated by the current economic environment. Because of economic circumstances, the renewed focus will be placed on three…

On Friday, March 27, the president signed historic legislation that temporarily expands the ability of individuals to access their retirement accounts during the pandemic. The bill waives the 10% early withdrawal penalty for individuals who withdraw up to $100,000 from qualified retirement accounts, including retirement plans and IRAs as a consequence of the coronavirus. Those who may…

Our firm was designed for our team to work from home. Here is what we learned. Rimon was founded 12 years ago as a distributed, cloud-based law firm, so the majority of our team has always worked from home. With over 200 people on the Rimon team, across 31 cities, nine countries, and four continents,…