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In addition to serving our clients, our attorneys are active in publishing articles, conducting seminars and giving speeches. Our firm also issues many press releases and is frequently mentioned in various news sources. These resources are available for information purposes only and may be obtained by using the various search functions below.

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Apr 06 2020

The Potential Impact of COVID-19 on Real Estate Leasing

Posted By: Benjamin S. Stern & Ann K. Chandler
Legal Update
Real Estate & Retail Real Estate & COVID-19 von Briesen Task Force

COVID-19 and the governmental regulations enacted to combat the spread of the virus have had substantial impact on the real estate community. The State of Wisconsin has prohibited eviction proceedings, foreclosures, and sheriff’s sales, and many courts are currently closed for all but emergency action. Apartment leasing agents are unable to enter into apartments. There is an ongoing push to postpone the payment of property taxes, and many other issues arising out of the state and federal legislation arising from the pandemic are having drastic effects on the real estate industry. However, the most common questions that our real estate clients have been asking us concern the effect of COVID-19 related issues on lease obligations.

The rights and responsibilities of landlords and tenants are governed by the specific provisions of the lease agreement and any inquiry relating to the rights of either landlord or tenant must begin with a review of the lease agreement. Specific provisions of commercial leases that should be reviewed include: force majeure, insurance, quiet enjoyment, termination, operating covenants and co-tenancy provisions. Below are a few of the issues which we have been analyzing for our landlord, tenant and lender clients in light of COVID-19.

Apr 03 2020

CARES Act Financial Assistance for States and Municipalities

Posted By: Andrew T. Phillips & Madeline C. Schmid
Legal Update
School Law & Municipal Law & Government Law & COVID-19 von Briesen Task Force

The CARES Act (the “Act”) offers much needed financial assistance for individuals and businesses throughout the United States who have been, and will continue to be, impacted by the COVID-19 pandemic. In addition to financial relief to the private sector, the Act also provides federal financial assistance to States and municipalities. States and municipalities will receive the financial assistance provided under the Act through three main avenues: (1) increased funding to grants and agencies; (2) Coronavirus Relief Fund; and (3) direct loans. Much of the specifics surrounding the enhanced funding will be worked out at the agency level through rule-making. The purpose of this Legal Update is to provide an overview of the categories of aid provided under the Act.

Apr 03 2020

Legislative, IRS and DOL Responses to COVID-19 Affecting Retirement Plans, Group Health Plans, Flexible Spending Accounts, and Health Savings Accounts

Posted By: Kenneth A. Hoogstra
Legal Update
Compensation and Benefits/ERISA & Labor and Employment & COVID-19 von Briesen Task Force

The past several weeks have given rise to an unprecedented flurry of new legislation and government agency actions in response to the coronavirus pandemic. This Legal Update summarizes key provisions of the Families First Coronavirus Response Act (the “FFCRA,” enacted on March 18, 2020), the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act,” enacted on March 27, 2020), as well as certain actions taken by the Internal Revenue Service and the Department of Labor that directly impact employer-sponsored retirement plans, group health plans, flexible spending accounts, and health savings accounts.

Apr 02 2020

CARES Act Programs for Businesses Too Large for the Paycheck Protection Program

Posted By: James J. Wawrzyn & Steven M. Szymanski & Madeline C. Schmid
Legal Update
Business and Corporate Law & COVID-19 von Briesen Task Force

Many businesses challenged by the economic conditions caused by COVID-19 are seeking relief from the Paycheck Protection Program only to find themselves ineligible due to its employee eligibility requirements. Financial assistance may be on the horizon for mid-sized and larger businesses. This Legal Update discusses the anticipated financial assistance from the United States Treasury Department for mid-sized and larger businesses. For resources on the different aspects of the CARES Act, please see other Legal Updates on the COVID-19 von Briesen Task Force Resource Page.

Many businesses have found that they do not qualify for financial assistance under the Paycheck Protection Program (“PPP”). However, a business in this circumstance still may qualify for a different assistance program under the CARES Act. The CARES Act set aside at least $454 billion for financial programs to assist eligible businesses (“4003(b)(4) Programs”). The Federal Reserve and Treasury has yet to provide additional information regarding the terms of, and application processes for, loans originated under the 4003(b)(4) Programs.

Apr 01 2020

Retirement Plan Benefits: The CARES Act and Other Tax Planning Considerations

Posted By: Terri S. Boxer & Thomas W. Moniz
Legal Update
Tax & Trusts and Estates & Estate Planning & COVID-19 von Briesen Task Force

2020 Required Minimum Distributions From Retirement Accounts Waived under CARES Act
The $2 trillion stimulus package known as the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the “Act”) has been approved by Congress and signed into law by President Trump. The Act includes provisions that will provide some flexibility for individuals related to retirement accounts.

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Other Tax Planning Considerations for Retirement Accounts
As many are aware, when an account holder withdraws funds from a traditional IRA, the funds withdrawn are subject to income tax in that year. When an account holder converts a traditional IRA to a ROTH IRA, tax becomes due on the value of the assets subject to the conversion and no additional tax is due later when the funds are withdrawn. While the funds remain in the ROTH, they continue to grow tax free.