News

​This week, Governor Hochul announced the Department of Health has designated COVID-19 an “airborne infectious disease," triggering activation of the NY HERO Act. All businesses are immediately required to implement their airborne infectious disease prevention plans required under the HERO Act. Big I NY and a broad-based group of business associations opposed this measure, expressing concerns it will be overly burdensome and unwarranted. Learn more about your compliance requirements hereAlso this week, Governor Hochul signed a bill which will hold construction contractors jointly and severally liable for wage theft violations of their subcontractors, including unpaid wages, benefits, wage supplements, penalties, liquidated damages, attorneys fees, and other…

​Congress has now begun working on the details of the $3.5 trillion reconciliation package that addresses issues like climate change, federal paid leave, Medicare expansion, childcare assistance, free community college and much more. To pay for such a large expansion of the federal government, Congressional Democrats are considering numerous tax changes that would impact your agency and your clients. Tax increases currently “on the table” include: a significant increase in the corporate tax rate, raising the top individual tax rate, nearly doubling the capital gains tax rate, potential elimination of “stepped up” basis, and modification/elimination of the Section 199A 20% small business tax deduction for pass-throughs.REQUESTED…