Posted April 9, 2020 with Tags COVID-19 for Employers, Tax Credits, COVID-19
How Employers Can Take Advantage of Tax Credits under the New FFCRA Legislation
The Families First Coronavirus Response Act (FFCRA) creates, for the first time, a federal requirement to issue paid sick leave and paid FMLA benefits for most private employers with fewer than 500 employees. To help offset the cost, the legislation permits employers to claim tax credits on qualifying paid leave wages, certain health plan expenses, and the employer's share of Medicare taxes.