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New FAQs Issued for Paid Employee Leave Tax Credits

New FAQs Issued for Paid Employee Leave Tax Credits

.5 minute read

The IRS released new FAQs about tax credits for employers who voluntarily provide paid employee leave under the Families First Coronavirus Response Act (FFCRA). The paid sick and family leave requirements expired under FFCRA on December 31, 2020, but the American Rescue Plan (ARP) extended the tax credits through September 30, 2021.

There are 123 new FAQs which include topics like how to claim tax credits, how to file for and calculate credit amounts, and how to receive advance payments and refunds.

Download the bulletin for more details.

 

This blog is intended to be a compilation of information and resources pulled from federal, state, and local agencies. This is not intended to be legal advice. For up to the minute information and guidance on COVID-19, please follow the guidelines of the Centers for Disease Control and Prevention (CDC) and your local health organizations.

National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.

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Erin Woulfe

Erin Woulfe

Erin Woulfe likes to write about things that matter. Keeping her finger on the pulse of what’s happening in the public sector world, she blogs about the latest legislative news and employee benefit trends that affect our school, city and county clients. She’s been with NIS since 2002. “I love connecting to our clients and providing them with the tools they need in order to administrate their plan,” says Erin. “Whether that be materials to educate their employees on certain benefits, how to effectively communicate change within an organization, or providing tips and how-to’s to help them make their job easier.”