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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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Bill Enright

Bill Enright

Bill Enright is Director of Consulting Services at National Insurance Services (NIS). He’s responsible for the management, fulfillment, and strategic direction of the full benefit consulting clients and services and the professional development of NIS full benefit consulting personnel. Bill is a 29+ year veteran in the employee benefits industry, from insurance carrier, benefit consultant, and now director. He has been published on the topics of health care reform and has served on the advisory committees and insurance lobbying groups at the state and local level. Bill served in the U.S Army Reserves as a non-commissioned officer for 11 years. He’s also involved with Special Olympics, youth sports coaching, and is a small group leader at his church.