The IRS has issued new guidance explaining the refundable tax
credits under
The Families First Coronavirus Response Act (the
"FFCRA").
The FFCRA was signed by President Trump on March 18, 2020. It
provides small and midsize employers refundable tax credits that
reimburse them, dollar-for-dollar, for the cost of providing paid
sick and family leave wages to their employees for leave related to
COVID-19.
Background: General FFCRA Paid Leave Provisions
The FFCRA provides for businesses with fewer than 500
employees.
- The funds provide employees with paid
sick and family and medical leave for reasons related to COVID-19,
either for the employee's own health needs or to care for
family members.
