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U.S. Treasury Secretary Announces Some Relief for Taxpayers Due to Coronavirus

Client Alert

In an unprecedented move, U.S. Treasury Secretary, Steve Mnuchin, has announced some limited relief for taxpayers in light of the Coronavirus pandemic.

What It Is

The relief provides some individuals and corporations an extension of time for the payment of their 2019 taxes. An individual who owes up to $1 Million and a corporation that owes up to $10 Million may have an additional 90 days to pay their 2019 taxes without incurring any interest or penalty for late payment. The relief is automatic says Mnuchin, requiring only that you file your tax return.

What It Is Not

This is not an extension of time to file your tax return. Individuals and C corporations must file their return or file for an extension by the April 15, 2020 filing deadline.

What We Don’t Know

The one thing that was not commented on is if there will be an extension of the due date for the first quarter estimated tax payment. Typically, individuals who are required to make estimated payments must make their first payment by April 15. Hopefully, guidance on this will be issued in the coming days.

State of Ohio

At this time, the State of Ohio has not issued any statement about extending either the due date or payment date for Ohio income taxes. The Ohio Society of Certified Public Accountants has written a letter to the governor requesting that an extension be put in place and we are currently awaiting a response.

This information is all based on the press conference at which Mnuchin spoke today. No formal guidance or announcements have come from the IRS at this time. We will continue to update you on any changes as guidance becomes available.


The Ohio State University Launches Its Accelerated Bachelor of Science in Nursing Program

In response to Ohio’s nursing shortage, The Ohio State University College of Nursing is accepting applications for its new Accelerated Bachelor of Science in Nursing program (aBSN). Created for students with a bachelor’s degree in non-nursing fields, the aBSN allows such students to obtain their nursing degree within 18 months. All aBSN students will participate in high-quality coursework and gain valuable clinical experience. Upon completion of the program, graduates will be eligible to take the State Board, National Council of Licensure Exam for Registered Nursing (NCLEX-RN).

Another Transparency Obligation: The FinCEN Beneficial Ownership Information Reporting Requirements

Many physician practices and healthcare businesses are facing a new set of federal transparency requirements that require action now. The U.S. Department of Treasury Financial Crimes Enforcement Network (“FinCEN”) Beneficial Ownership Information Reporting Requirements (the “Rule”), which was promulgated pursuant to the 2021 bipartisan Corporate Transparency Act, is intended to help curb illegal finance and other impermissible activity in the United States.

“In for a Penny, in for a Pound” is No Longer the Case for Florida Lawyers

On April 1, 2024, newly adopted Rule 1.041 to the Florida Rules of Civil Procedures goes into effect which creates a procedure for an attorney to appear in a limited manner in civil proceedings.  Currently, when a Florida attorney appears in a civil proceeding, he or she is reasonable for handling all aspects of the case for their client.  This new rule authorizes an attorney to file a notice limiting the attorney’s appearance to particular proceedings or specified matters prior to any appearance before the court.  For example, an attorney can now appear for the limited purpose of filing and arguing a motion to dismiss.  Once the motion to dismiss is heard by the court, the attorney may file a notice of termination of limited appearance and will have no further obligations in the case.

Enhancing Privacy Protections for Substance Use Disorder Patient Records

On February 8, 2024, the U.S. Department of Health and Human Services (“HHS”) finalized updated rules to 42 CFR Part 2 (“Part 2”) for the protection of Substance Use Disorder (“SUD”) patient records. The updated rules reflect the requirement that the Part 2 rules be more closely aligned with the Health Insurance Portability and Accountability Act of 1996 (“HIPAA”) privacy, breach notification, and enforcement rules as mandated by the Coronavirus Aid, Relief, and Economic Security Act of 2020.

Columbus, Ohio Ordinance Prohibits Employers from Inquiries into an Applicant’s Salary History

Effective March 1, 2024, Columbus employers are prohibited from inquiring into an applicant’s salary history. Specifically, the ordinance provides that it is an unlawful discriminatory practice to: