News & Analysis as of

Natural Disasters

Tax relief for victims of Hurricanes Harvey, Irma and Maria

by Dentons on

The US federal government has taken a number of steps to ease the tax burden on individuals and businesses affected by damage from Hurricanes Harvey, Irma and Maria in Texas, Florida, Georgia, Puerto Rico and the US Virgin...more

Tax Extensions Available to Victims of California Wildfires

by Moskowitz LLP on

Yesterday, the IRS announced that victims of the California wildfires have been granted extensions to file certain individual and business tax returns. ...more

Hurricane Maria's Aftermath, Part II: Puerto Rico Government Provides Various Exemptions and Extensions to Multiple Upcoming...

by Littler on

In the aftermath of Hurricane Maria's catastrophic impact on Puerto Rico, in order to assist in rebuilding and recovery, Puerto Rico’s governor and several agencies have issued multiple exemptions to previously established...more

IRS Provides Relief for Bona Fide Residents of U.S. Virgin Islands, Puerto Rico

by Holland & Knight LLP on

• Because of the damage Hurricanes Irma and Maria inflicted on the U.S. Virgin Islands and Puerto Rico, the IRS has relaxed the stringent physical presence requirements that individuals typically must satisfy to qualify as...more

Hurricane Maria's Aftermath: Highlights of Available Government Assistance for Puerto Rico Residents

by Littler on

On September 20, 2017, Puerto Rico suffered the catastrophic impact of Hurricane Maria, which savaged the Island, taking down all communications systems, severely damaging or completely destroying many homes and roads, and...more

After the Waters Recede: The Mortgage Servicer’s Role in Navigating Insurance Claims, Part II

In the first part of the series “The Mortgage Servicer’s Role in Navigating Insurance Claims,” we covered assessing the damage in the wake of a natural disaster and applying the proceeds when complying with the terms of...more

With most businesses back after Harvey & Irma, what to know about what comes next: legal restoration

by Hellmuth & Johnson PLLC on

This blog post is the first in a three part series. The next posts will cover Business Interruption Coverage and Reinsurance. Business owners affected by hurricanes Harvey and Irma spent the first few days and weeks...more

Reed Smith Hurricane Maria Disaster Relief Resources Guide

by Reed Smith on

Industry insured losses for Hurricane Maria are estimated to be between US$40 billion and US $85 billion. Puerto Rico, alone, will account for more than 85% of the loss. Individuals impacted by Hurricane Maria will generally...more

After the Storm: Forensic Accounting = Record Reconstruction

by Foodman CPAs & Advisors on

IRS is authorized to grant certain relief that may help Taxpayers and Businesses recover financially from the impact of a disaster when the federal government declares their location to be a major disaster area. IRS could...more

Telecommuting Policies When Inclement Weather Strikes

As my great-grandfather would always say: “Expect the unexpected so when it reaches you you’re not surprised.” Good advice generally . . . but especially today. . . given the chaos caused by recent major weather events. ...more

Client Alert: Congress Provides More Hurricane Relief for Employees and Employers

On September 29, 2017, President Trump signed the Disaster Tax Relief and Airport and Airway Extension Act of 2017 (the “Act”). In addition to extending the funding for the Federal Aviation Administration, the Act contained...more

Hurricane Relief Legislation for Retirement Plans

We addressed hurricane relief for retirement plans offered by the IRS and other agencies in previous blog posts While the IRS relief allows for easier access to retirement funds on account of losses due to the recent...more

Employment Considerations During Natural Disasters

by Hirschfeld Kraemer LLP on

Tragic events such as the fires currently affecting both Northern and Southern California often leave employers unable to run business as usual. Be it property damage or safety concerns, this disruption in business can leave...more

Corporate E-Note - September 2017

by Burr & Forman on

Global companies must safeguard confidential, proprietary information and trade secrets—not just from cybercriminals, “hacktivists,” cyberterrorists, and competitors—but from former employees. Too often, terminated or...more

Business Litigation E-Note - September 2017

by Burr & Forman on

Cyber threats take many forms. The widespread WannaCry ransomware attack in May of 2017 highlighted how computer files could be held hostage in return for payment, while the Dyn denial of service in October of 2016...more

Puerto Rico Department of the Treasury Grants Temporary Tax Exemptions for Employer-Provided Payments and Certain Benefits to...

by Littler on

On October 4, 2017, the Puerto Rico Department of the Treasury (the “PR Treasury”) issued Administrative Determination No. 17-21 (“AD 17-21”) granting temporary income tax exemptions for payments and certain benefits provided...more

Forecast for a Political Storm Over Possible Changes to National Flood Insurance Program

by Locke Lord LLP on

This hurricane season cut a wide swath of devastation through the Southeastern United States, dealing another blow to the National Flood Insurance Program (NFIP), which faces the risk of significant debt in light of the...more

Help Us (and the Code) Help You! Helping Employees/Co-Workers in a Crisis

by Bond Schoeneck & King PLLC on

In response to disasters such as hurricanes and earthquakes, the general community comes together to assist those in need — donating our blood, time, money, and belongings. We respond similarly when one of our co-workers...more

In Aftermath of Hurricane Maria, Connecticut School Districts Reminded of Obligations to Displaced Puerto Rican Students

by Shipman & Goodwin LLP on

On September 28, 2017, Connecticut Governor Dannel P. Malloy and Commissioner of Education Dr. Dianna R. Wentzell issued a joint memorandum to Connecticut superintendents of public schools outlining local educational agency...more

Flood Exclusion Unambiguously Excludes Coverage For $49.5M In Hurricane Sandy Losses Caused By Storm Surge

by Cozen O'Connor on

Cozen O’Connor attorneys Thomas McKay III, Richard Mackowsky, Charles Jesuit, and Melissa Brill recently secured summary judgment from the United States District Court for the Eastern District of New York in favor of Great...more

What’s New in Washington: 10 Things You Need to Know

Congress returned after Labor Day for a busy September and acted quickly to avoid a government shutdown by passing stop gap funding for Fiscal Year (FY) 2018 and raising the debt ceiling. The already crowded congressional...more

You Should Know - October 2017

We Will Get Through This Together - Americans are hurting. First it was Hurricane Harvey slamming into Texas and Louisiana. Then Hurricane Irma chased thousands from their homes in Florida. Puerto Rico is still reeling...more

Insurance News - Part II: FAQs for Restoring Order After the Wind and Rain Have Gone

by Cohen & Grigsby, P.C on

Recent experiences have demonstrated that commercial policyholders who document their losses and seek to pursue coverage promptly and diligently will stand the greatest chance of maximizing their insurance recoveries for...more

Insurance News - Part I Frequently Asked Questions

by Cohen & Grigsby, P.C on

As we recover from Hurricane Irma, many of us are counting on help from our insurance companies to which we have paid hefty premiums. With this in mind, we have compiled a short list of frequently asked questions that you may...more

Trade & Manufacturing - News of Note - October 2017

by King & Spalding on

U.K. Revenue And Customs Head Testifies On Post-Brexit Border And Customs Issues On September 14, 2017, the United Kingdom (UK) Parliament Treasury Committee met with Her Majesty’s Revenue & Customs (HMRC) officials to...more

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Cybersecurity

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