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Author Archives: Todd McMurtry

Does the President Have the Legal Authority to Cancel Student Loans by Executive Order?

Author By Todd McMurtryPosted on

One of the biggest issues faced by the Biden Administration is the nation’s student loan crisis. Congressional leaders and various organizations are calling on President Biden to cancel up to $50,000 in student loans per borrower by executive order. Biden supports the idea in principle but questions whether he has the legal authority to take executive action. Generally, Congress has authority pertaining to the approval of federal spending, the category under which student loans fall.

However, Senate Democratic Leader Chuck Schumer, Senator Elizabeth Warren and other senators have introduced a resolution outlining a way that the president could use his authority under the Higher Education Act of 1965 to cancel student loan debt and to ensure federal student loan borrowers do not incur tax liability as a result. A section of the act gives the Secretary of Education the power “to modify, compromise, waive, or release any right, title, claim, lien, or demand, however acquired, including any equity or any right of redemption.” The resolution seeks the sense of Congress that through the Secretary of Education, student loans can be cancelled by execution action.

Calls for federal student debt cancellation have also been lodged by more than 325 undersigned community, civil rights, climate, health, consumer, labor and student advocacy organizations.

With Congress embroiled in debate over the pending COVID-19 stimulus package, it is unlikely that legislative action on student debt will be taken soon. In the meantime, an automatic forbearance has been applied to federal student loans due to the pandemic. Debtors also may have other options for easing their financial burdens. These may include:

  • Refinancing — By combining federal or private student loans into a single loan, you may be able to lower your interest rate, which can help you pay off the debt faster.
  • Income-driven repayment plans — If your monthly payments are higher than you can afford, you can negotiate with the lender about entering into a repayment plan that suits your income level. Depending on your financial circumstances, you may be able to enroll in a plan that drastically lowers your monthly payments.
  • Forgiveness — You may be eligible for forgiveness, cancellation, or discharge of your student loans based on certain reasons, such as if you are totally and permanently disabled, are employed by a government or not-for-profit organization or have a history of working as a full-time teacher in a low-income elementary school, secondary school or educational service agency. A student loan may be discharged in bankruptcy if you can prove economic hardship.

About Finney Law Firm, LLC

Founded in 2014, FLF has grown to 15 attorneys located in offices in Eastgate and downtown Cincinnati with five major practice areas: Corporate Law, Real Estate Law, Employment Law, Commercial Litigation and Public Interest and Constitutional Litigation.  FLF has the unique claim to three 9-0 victories at the United States Supreme Court for its public interest practice along with breakthrough class action work.

FLF also has an affiliated title insurance company, Ivy Pointe Title, LLC, that closes and insures nearly a thousand commercial and residential real estate transactions annually.

For more information about Finney Law Firm, visit finneylawfirm.com.

Media Contact: Mickey McClanahan; mickey@finneylawfirm.isoc.net; 513.797.2850.

 

How to Obtain Records from a Public Agency in Kentucky

Author By Todd McMurtryPosted on

Kentucky citizens have the right to know how public agencies, officials, departments and other bodies conduct their affairs. Since passage of the Kentucky Open Records Act in 1976, all public records have been open for inspection by anyone who requests them, unless the record falls under an exemption.

The Open Records Act applies to all public records kept by state and local government entities, including:

  • State and local government officers, departments and legislative bodies
  • County and city governing bodies, school district boards, special district boards and municipal corporations
  • State or local government agencies created by statute or other legislative acts
  • Bodies that receive at least 25 percent of their funds from state or local authority
  • An entity where the majority of its governing body is appointed by a public agency
  • Boards, commissions, committees and other bodies that are established, created and controlled by public agencies
  • Interagency bodies of two or more public agencies

The full procedure for requesting public records, along with explanations of which records are exempt, is available here.

You must first send your request, in writing, to the official records custodian for the agency. You must describe the records you want to inspect, sign the request, and print your name.

Importantly, the request must seek records, not merely information. A request stating, “How much are the city’s employees paid?” is likely to be denied. The proper way to phrase the request is, “Please provide me with copies of the city’s payroll records for the most recent year.”

Your request may be hand-delivered, mailed or faxed to the agency. Sending your requests by email may be an option, but many agencies are not required to answer them. The state governor requires all executive branch agencies to accept email requests, but non-executive agencies do not have to do so.

The agency must respond to your request, in writing, within three business days. If you send your request to the wrong agency, or if the record you requested is unavailable, the agency is required to notify you. Similarly, if the agency refuses your request, the agency must explain why.

Records will be provided in whatever format they are kept. Agencies are not required to convert paper records to electronic formats.

About Finney Law Firm, LLC

Founded in 2014, FLF has grown to 15 attorneys located in offices in Eastgate and downtown Cincinnati with five major practice areas: Corporate Law, Real Estate Law, Employment Law, Commercial Litigation and Public Interest and Constitutional Litigation.  FLF has the unique claim to three 9-0 victories at the United States Supreme Court for its public interest practice along with breakthrough class action work.

FLF also has an affiliated title insurance company, Ivy Pointe Title, LLC, that closes and insures nearly a thousand commercial and residential real estate transactions annually.

For more information about Finney Law Firm, visit finneylawfirm.com.

Media Contact: Mickey McClanahan; mickey@finneylawfirm.isoc.net; 513.797.2850.

 

Understanding Shareholders’ Rights in Derivative Actions

Author By Todd McMurtryPosted on

When someone who controls a corporation, such as a CEO or director, engages in conduct that a shareholder believes has harmed the corporation in some way, what can the shareholder do about it? In some circumstances, a shareholder may file a derivative lawsuit.

Shareholders are investors in a corporation but they do not have control over business operations. They elect directors who in turn appoint officers and executives to handle management. However, shareholders have a variety of rights, and one of the most important is the right to sue an officer or director who allegedly has harmed the corporation. Such a lawsuit is called a derivative action because the shareholder is stepping into the shoes of the corporation, sticking up for its interests when its own leaders fail to do so.

Shareholder derivative lawsuits allege that a director or officer has engaged in such mismanagement, fraud or some other wrongful act or has failed in discharging their fiduciary duties. The shareholder suit against fast food giant Wendy’s, for example, alleges that directors breached their fiduciary duty by approving inadequate security practices that led to a massive data breach.

For a corporation to be sued derivatively:

  • The plaintiff must be shareholder when the alleged wrong occurred.
  • The shareholder must first make a demand on the corporation, insisting that it take the desired action.
  • If the shareholder doesn’t make a demand, he or she must convince the court that such a demand would be futile.
  • Assuming a demand is made, the board of directors may, in its business judgement, refuse to act on the demand.
  • It is then the plaintiff’s burden to explain why the refusal to act on the demand is anything but a valid use of business judgment.

The business judgment element is a critical part of a derivative lawsuit. There is a legal presumption that directors, when making a business decision, do so in good faith, with enough information and with the honest belief that they are acting in the company’s best interest. Kentucky case law holds that “if the requirements of the traditional business judgement rule are met, the board’s decision [to refuse the demand] will be respected by a reviewing court.”

About Finney Law Firm, LLC

Founded in 2014, FLF has grown to 15 attorneys located in offices in Eastgate and downtown Cincinnati with five major practice areas: Corporate Law, Real Estate Law, Employment Law, Commercial Litigation and Public Interest and Constitutional Litigation.  FLF has the unique claim to three 9-0 victories at the United States Supreme Court for its public interest practice along with breakthrough class action work.

FLF also has an affiliated title insurance company, Ivy Pointe Title, LLC, that closes and insures nearly a thousand commercial and residential real estate transactions annually.

For more information about Finney Law Firm, visit finneylawfirm.com.

Media Contact: Mickey McClanahan; mickey@finneylawfirm.isoc.net; 513.797.2850.

 

Can China Be Held Legally Responsible for the COVID-19 Epidemic?

Author By Todd McMurtryPosted on

A bill recently introduced in Congress would allow Americans to sue the Chinese government for harm caused by the coronavirus pandemic. The measure, called the Holding the Chinese Communist Party Accountable for Infecting Americans Act, is the most recent in a series of attempts by legislators to saddle China with legal liability for the spread of COVID-19 throughout the U.S.

The Foreign Sovereign Immunities Act (FSIA) precludes most lawsuits against a foreign nation. The U.S. Supreme Court has held that the FSIA is the sole basis for obtaining jurisdiction over a foreign state. However, the FSIA does have a few exceptions, allowing lawsuits when a foreign state has waived its immunity, when the claim is based on the foreign state’s commercial activity in the U.S. and when the claim is against a country that the U.S. has labeled as a state sponsor of terrorism.

The latest bill, sponsored by Sen. Tom Cotton (R-Ark) and Rep. Dan Crenshaw (R-Texas), would amend the FSIA to create a new exception for “damages caused by China’s dangerous handling of the COVID-19 outbreak.” In introducing the bill, Crenshaw said, “We need to hold the Chinese government accountable for their malicious lies and coverup that allowed the coronavirus to spread across the world. Simply put, their actions cost American lives and livelihoods.”

Lawsuits against China have already been filed by plaintiffs in Florida, Nevada and Texas. The Florida case, for example, involves claims of negligence, public nuisance and negligent infliction of emotional distress against several defendants, including China as a nation, China’s National Health Commission, Ministry of Emergency Management, the Government of Hubei Province, and the Government of Wuhan.

Unless this new bill or some other new legislation creates a new exception to the FSIA, cases like these are very likely to be dismissed for lack of jurisdiction. However, the potential for congressional action may serve as incentive enough for China to engage in settlement discussions that could result in substantial payments.

About Finney Law Firm, LLC

Founded in 2014, FLF has grown to 15 attorneys located in offices in Eastgate and downtown Cincinnati with five major practice areas: Corporate Law, Real Estate Law, Employment Law, Commercial Litigation and Public Interest and Constitutional Litigation.  FLF has the unique claim to three 9-0 victories at the United States Supreme Court for its public interest practice along with breakthrough class action work.

FLF also has an affiliated title insurance company, Ivy Pointe Title, LLC, that closes and insures nearly a thousand commercial and residential real estate transactions annually.

For more information about Finney Law Firm, visit finneylawfirm.com.

Media Contact: Mickey McClanahan; mickey@finneylawfirm.isoc.net; 513.797.2850.

 

How COVID-19 Might Affect Your Estate Tax Planning

Author By Todd McMurtryPosted on

  • posted: Jun. 11, 2020
  • Todd McMurtry
  • Taxation

It should not take a pandemic to remind us all of our own mortality and the need to plan for our loved ones. However, the lethal spread of the COVID-19 virus highlights why it is so important to have a sound strategy in place to minimize taxes and maximize the value of your estate. We still don’t know when or how this national emergency will end, but there are steps you can take right now to adjust to the financial turmoil and protect the people who matter most.

Whether you believe your estate will be subject to estate tax or not, it’s worthwhile to review and possibly revise your plan based on potential changes such as:

  • Stock market losses — Most stocks have dropped sharply since coronavirus started causing widespread harm in the United States. In light of the decreased value and uncertainty ahead, you might want to check to see if your estate plan reflects your current intentions. While nobody likes to watch their stock portfolio drop, the hidden silver lining is that now may be a good time to transfer assets that have reduced in value to loved ones, saving room under the annual $15,000 tax exemption for gifts to each recipient.
  • Interest rate drops — With exceptionally low interest rates, legal instruments such as Grantor Retained Annuity Trusts (GRATs) and Intentionally Defective Grantor Trusts (IDGTs) can be especially advantageous when it comes to lowering your taxable estate. In an IDGT, the grantor sells an asset to the trust in exchange for a payment of above market return. Paying above market is less of a burden when the interest rate is near zero. The grantor pays income taxes during their lifetime, but the underlying assets in the trust are allowed to grow, tax free, passing to the person’s estate without such growth impacting the taxable amount.
  • Estate tax threshold — Right now, the federal estate tax exemption is at an all-time high of $11.58 million for an individual, double that for a couple. Given the amount of government money expended to deal with the coronavirus pandemic, it’s possible that the exemption could revert to its much lower level when the law is set to sundown at the beginning of 2026.

An attorney who is familiar with complex tax laws and the latest developments in this area can help you guard your estate’s value against present and future threats.

About Finney Law Firm, LLC

Founded in 2014, FLF has grown to 15 attorneys located in offices in Eastgate and downtown Cincinnati with five major practice areas: Corporate Law, Real Estate Law, Employment Law, Commercial Litigation and Public Interest and Constitutional Litigation.  FLF has the unique claim to three 9-0 victories at the United States Supreme Court for its public interest practice along with breakthrough class action work.

FLF also has an affiliated title insurance company, Ivy Pointe Title, LLC, that closes and insures nearly a thousand commercial and residential real estate transactions annually.

For more information about Finney Law Firm, visit finneylawfirm.com.

Media Contact: Mickey McClanahan; mickey@finneylawfirm.isoc.net; 513.797.2850.

 

Complying with Corporate Annual Meeting Requirements during the COVID-19 Quarantine

Author By Todd McMurtryPosted on

How do you hold a corporate annual meeting when the entire country is in lockdown? On the surface, it might seem like a simple matter of using a favorite video conferencing tool and perhaps checking to see if it’s been hacked. Annual meetings for corporations are more than get-togethers. They are legally mandated proceedings that could put the company at risk if proper rules are not followed.

Before you break out Zoom, Skype or Google Meet, you should be familiar with the state laws, corporate bylaws and SEC regulations that apply to your business. Here are some tips to get you started:

  • The SEC issues up-to-date guidelines on best practices — Corporations that issue stock are required to hold annual meetings in compliance with state law. These meetings have notice, publication, procedural and voting rules. There are numerous regulations stating how a corporation must go about changing the date, time and location of a meeting. In light of the restrictions related to COVID-19, the SEC has issued helpful guidance about how to comply with these regulations.
  • States differ on the validity of virtual meetings — Whether a virtual meeting fulfills your company’s legal obligation depends on its state of incorporation. For example, Delaware allows virtual meetings, with no particularly onerous requirements or regulations. New York accepts hybrid meetings where parties can join in online, but there must be an in-person component.
  • Don’t forget your bylaws — Check your corporate bylaws to determine if a meeting conducted through an online communication tool is allowed, and to see what types of notice might be required.
  • Take security precautions — With millions more people working and attending classes virtually, it is not surprising that many of our online video conferencing providers have struggled. Some have had latency or downtime issues, while others have suffered security breaches. Before you select a vendor for your virtual meeting, you will need to ensure that the platform is secure enough for confidential corporate discussions and appropriate for your particular needs, particularly if a large group of stockholders requires access.

Along with making security and technical arrangements, it’s wise to work with a knowledgeable attorney who can outline the federal, state and internal regulations that must be considered when adjusting the format of a corporate meeting in reaction to the coronavirus pandemic.

About Finney Law Firm, LLC

Founded in 2014, FLF has grown to 15 attorneys located in offices in Eastgate and downtown Cincinnati with five major practice areas: Corporate Law, Real Estate Law, Employment Law, Commercial Litigation and Public Interest and Constitutional Litigation.  FLF has the unique claim to three 9-0 victories at the United States Supreme Court for its public interest practice along with breakthrough class action work.

FLF also has an affiliated title insurance company, Ivy Pointe Title, LLC, that closes and insures nearly a thousand commercial and residential real estate transactions annually.

For more information about Finney Law Firm, visit finneylawfirm.com.

Media Contact: Mickey McClanahan; mickey@finneylawfirm.isoc.net; 513.797.2850.

 

Due to COVID-19, the IRS Pushes Tax Deadline Back to July 15

Author By Todd McMurtryPosted on

  • posted: May 26, 2020
  • Todd McMurtry
  • Taxation

The traditional tax day of April 15 has passed and millions of Americans are taking advantage of the three-month reprieve given by the federal government and many states in response to the COVID-19 pandemic. Depending on your individual circumstances, you might be looking to file as quickly as possible in order to collect your refund. On the other hand, problems accessing information or scheduling meetings with an accountant or tax preparer could push your submission closer to the revised deadline.

For filers and businesses alike, this is a necessary and welcome change, as many do not have access to their records and cannot get them while various parts of the country are in a lockdown. With the extension, you should have enough time to gather your records and pay — without penalty — at the later date. If you haven’t filed yet, you should know:

  • Federal filing and payment deadlines are extended — Initially, it appeared that the deadline for filing would not be extended, but the deadline for payment would be. However, subsequent events, the potential for confusion and the overwhelming effect of the pandemic led the federal government to push the deadline for both out to mid-July. Just as we cannot foresee how long the deadly COVID-19 threat will last, we cannot be sure if further extensions or adjustments will be made.
  • States are taking various approaches — Many states have also extended their tax filing and payment deadlines. Some have followed the IRS by moving the date to July 15. Others have closer deadlines, while some states aren’t offering relief. It is important for you to learn what the standard is in your state, so you should refer to an official website or reliable professional if you have questions.
  • Refunds are available — Some confusion might have been caused by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The process for sending stimulus checks authorized by that law used income and bank account information from tax filings to determine eligibility and transfer funds. If your income rises above a certain level, you are not eligible for those payments, but standard tax refunds are being paid promptly regardless of your income or the amount you expect to receive.

Even in the first two months since the coronavirus started causing widespread harm, numerous changes have affected personal and business taxation. For example, there is a recently announced paid sick leave tax credit which many businesses are likely to avail themselves of during this pandemic. Though no one can be sure what’s coming, a knowledgeable taxation attorney can keep you abreast of key developments.

About Finney Law Firm, LLC

Founded in 2014, FLF has grown to 15 attorneys located in offices in Eastgate and downtown Cincinnati with five major practice areas: Corporate Law, Real Estate Law, Employment Law, Commercial Litigation and Public Interest and Constitutional Litigation.  FLF has the unique claim to three 9-0 victories at the United States Supreme Court for its public interest practice along with breakthrough class action work.

FLF also has an affiliated title insurance company, Ivy Pointe Title, LLC, that closes and insures nearly a thousand commercial and residential real estate transactions annually.

For more information about Finney Law Firm, visit finneylawfirm.com.

Media Contact: Mickey McClanahan; mickey@finneylawfirm.isoc.net; 513.797.2850.

 

Key Aspects of the CARES Act Provisions Authorizing Small Business Loans

Author By Todd McMurtryPosted on

Small business owners are necessarily prepared for various types of challenges, but what do you do when the government orders you to close for an indefinite amount of time? Unfortunately, the COVID-19 pandemic has put millions in this very difficult position. Even worse, it is still unclear in many places when authorities will allow businesses to reopen their doors, and what the U.S. economic landscape will look like when they do.

To address these concerns, the federal government has passed legislation designed in part to support small businesses throughout this crisis. Understandably, reaction has been overwhelming, but the different types of relief can be confusing, and a mistake that leads to a delay could be very costly. If you’re looking for assistance offered in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, here’s what you should know:

  • Paycheck Protection Program — Much of the media coverage has been focused on the Paycheck Protection Program (PPP), which allows small businesses to apply through their local bank for up to $10 million or 2.5 times their average monthly payroll — whichever amount is smaller. If the funds received from the PPP loan are spent within eight weeks on payroll, mortgage payments or a few other necessary expenses that are outlined in the text of the law, the loan amount is forgiven, making this more of a grant than an actual loan.
  • Economic Injury Disaster Loans — This measure simplifies and expands upon the Economic Injury Disaster Loan (EIDL) program. Run by the Small Business Administration, the EIDL approval process has been streamlined and businesses can now ask for up to $10,000 as an advance on the loan. These amounts do not have to be repaid and can be granted regardless of whether the underlying loan is ever issued. Moreover, the collateral requirements that were previously in place for larger loans have been eased or eliminated.
  • Possible future modifications — Even in the first few days, the popularity of the programs caused delays and fears of depletion. Congress is expected to authorize more funds to back these loans, but small businesses might need tenacity, patience and assistance from an experienced adviser to keep up with the changes and secure the funding they need.

If you’re wondering which loan to pick, you can actually apply for both. Just remember that each loan has its own requirements for forgiveness. If you have difficulty applying for, or getting approved for, one of these loans, or if you have questions about whether your lender or the SBA is complying with the text of the law, consult a small business attorney on whether a suitable remedy is available.

About Finney Law Firm, LLC

Founded in 2014, FLF has grown to 15 attorneys located in offices in Eastgate and downtown Cincinnati with five major practice areas: Corporate Law, Real Estate Law, Employment Law, Commercial Litigation and Public Interest and Constitutional Litigation.  FLF has the unique claim to three 9-0 victories at the United States Supreme Court for its public interest practice along with breakthrough class action work.

FLF also has an affiliated title insurance company, Ivy Pointe Title, LLC, that closes and insures nearly a thousand commercial and residential real estate transactions annually.

For more information about Finney Law Firm, visit finneylawfirm.com.

Media Contact: Mickey McClanahan; mickey@finneylawfirm.isoc.net; 513.797.2850.

 

When Can a Worker Sue for Defamation?

Author By Todd McMurtryPosted on

Your ability to earn a livelihood depends in large part on your reputation, which can be heavily based on what your present and previous employers or clients say about you. If you believe that anyone connected with your career made disparaging remarks that hurt your prospects for a job or a promotion, you may be entitled to sue for defamation, seeking money damages.

Proving defamation requires showing that the statements were false, of a defamatory nature, about the worker, made to a third party, made negligently or intentionally, and (depending on the defamatory nature of the statements) caused damages. Because of this exacting standard, there are important things to keep in mind when contemplating such a claim against an employer or other business associate:

  • Some communications are privileged — Employers usually may speak about an employee’s character and qualifications to other parties who have a legitimate interest in that information, such as a hirer or recruiter seeking a reference. This is a qualified privilege, however. It does not cover a false statement made with actual malice — namely, knowledge of its falsity or reckless disregard of whether or not it is true.
  • The statement must have been harmful (i.e., of a defamatory nature) — Even if a knowing false statement can be proved, the plaintiff still must show that an injury resulted, such as reputational damage or emotional distress. This includes showing that the plaintiff’s job prospects were significantly hampered as a result of the defamation.
  • Certain statements are defamatory per se — When false statements are made that an employee committed a crime, engaged in lewd or promiscuous activity or carried on other conduct that would be considered a public disgrace, defamation is presumed to have occurred. The employee may recover punitive damages even without showing actual harm.
  • Opinions are not statements of fact and thus cannot be proven false —An opinion by its very nature is neither true nor false but only an indication of the speaker’s frame of mind. However, the line between opinion and statement is not always clear. Even expressions couched in terms like “I feel,” “I think” or “In my opinion” can be defamatory if they convey false information.

Many companies have adopted best practices that prohibit giving out any data about employees, other than to confirm their job titles and dates of employment. However, offhand comments on the side can be defamatory. What’s more, these communications are usually not protected by the qualified privilege.

About Finney Law Firm, LLC

Founded in 2014, FLF has grown to 15 attorneys located in offices in Eastgate and downtown Cincinnati with five major practice areas: Corporate Law, Real Estate Law, Employment Law, Commercial Litigation and Public Interest and Constitutional Litigation.  FLF has the unique claim to three 9-0 victories at the United States Supreme Court for its public interest practice along with breakthrough class action work.

FLF also has an affiliated title insurance company, Ivy Pointe Title, LLC, that closes and insures nearly a thousand commercial and residential real estate transactions annually.

For more information about Finney Law Firm, visit finneylawfirm.com.

Media Contact: Mickey McClanahan; mickey@finneylawfirm.isoc.net; 513.797.2850.

 

Potential Tax Effects Associated with the CARES Act Stimulus

Author By Todd McMurtryPosted on

Since March, federal and state governments have engaged in a variety of methods designed to safeguard Americans’ health and financial security in the wake of the coronavirus pandemic. At any time, taxes have a direct impact on our lives, so it’s natural that some of the key provisions of the recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act relate to taxation. Designed to assist states, medical providers, businesses and individuals, this legislation was signed into law on March 27, in the midst of what is usually income tax filing season.  

Critical aspects of the CARES Act that have an effect on taxes include: 

  •     Rebate payments — Much has been made of stimulus dollars that will be going directly to taxpayers. Not everyone will collect these payments, however, which begin to phase out for individuals with an annual income of at least $75,000 and jointly filing married couples whose combined income is $150,000 or more. The individual maximum payment is $1,200 and as much as $2,400 can be sent to a couple when the spouses file jointly. On top of that, an additional $500 can go to a household for each child 17 years of age or younger. 
  •     Filing and payment extensions — Congress extended by three months the traditional April 15 deadline for the filing of federal income tax returns and the payment of amounts owed to the government. Originally, only the payment date was shifted, but now both deadlines are slated for July 15. That is also the date by which someone must apply for an extension, to October 15, if they need one.
  •     Payroll tax credits — Employers that do not take a Paycheck Protection Program loan, offered through the CARES Act, are eligible to take a credit on their payroll taxes through the end of 2020. This credit is offered to businesses that have been closed down due to government order or have seen a year-over-year drop of at last 50 percent of gross receipts in a given quarter. Within a quarter, the credit can total as much as $5,000.  

Handling tax issues can be a challenge at any time, and especially during these perilous economic times, you don’t want to make a costly mistake. Consulting with an effective tax attorney will help you take advantage of programs that have been created or modified to address the issues you’re facing.

About Finney Law Firm, LLC

Founded in 2014, FLF has grown to 15 attorneys located in offices in Eastgate and downtown Cincinnati with five major practice areas: Corporate Law, Real Estate Law, Employment Law, Commercial Litigation and Public Interest and Constitutional Litigation.  FLF has the unique claim to three 9-0 victories at the United States Supreme Court for its public interest practice along with breakthrough class action work.

FLF also has an affiliated title insurance company, Ivy Pointe Title, LLC, that closes and insures nearly a thousand commercial and residential real estate transactions annually.

For more information about Finney Law Firm, visit finneylawfirm.com.

Media Contact: Mickey McClanahan; mickey@finneylawfirm.isoc.net; 513.797.2850.

 

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