Tax Credits Provided to Small Businesses

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Summary of Keypoints Overview of FFCRA tax credits for small businesses: The Families First Coronavirus Response Act requires small businesses to provide paid sick leave and emergency family and medical leave, while offering refundable payroll tax credits to offset the cost of these required wages. Scope and timing of credits: The FFCRA provides a 100%…

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Families First Emergency Family and Medical Leave Expansion Act

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Summary of Keypoints Overview of Families First emergency leave requirements: The Families First Emergency Family and Medical Leave Expansion Act (EFMLEA) and the Emergency Paid Sick Leave Act (EPSLA) require employers with fewer than 500 employees to provide paid leave related to COVID-19, with potential exemptions for employers with fewer than 50 employees if compliance…

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