March 27

Securities Losses from the Coronavirus – What Now?

It is likely many of you, your friends, family, and business associates have recently suffered substantial losses to your portfolios, 401(k) plans, deferred compensation plans, and related investment accounts. The question you must first ask is whether this was the fault of the market or was it primarily the fault of bad investment planning and advice by your broker.

March 27

Business Interruption & COVID-19: What Business Owners Need to Know

With businesses closing, people working from home, and stock prices falling, the Coronavirus (COVID-19) is having a real financial impact on American citizens and their businesses. In the midst of loss-causing closures, businesses may need to file claims with their property insurance carriers. If your business faces closure, and you plan to file a claim with your property insurance carrier, whether your specific losses will be covered will depend on the law in your jurisdiction and the specific language of various provisions of your insurance policy. However, in general, there are several types of coverage that may be implicated by a business closure, including coverage for physical property loss or damage, business interruption coverage, environmental coverage, and business travel accident coverage.

March 25

IRS Filing & Payment Deadlines Questions & Answers

In times of confusion and uncertainty, it’s important to find a good source for information. I’ve received many summaries from various sources about the effect of IRS Notice 2020-18, which delayed some, but not all, tax filing deadlines. For those of us in planning and estate administration, the deadlines for gift and estate tax returns are not extended, but the deadline for Form 1041 (Income Tax Returns for Estates and Trusts) is extended.