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The new COVID-19 stimulus package is now law. As discussed below, it provides some employers an incentive to extend certain COVID-19 related leave benefits through Q1 2021.
Optional FFCRA Tax Credits Extended Through March 31, 2021
The Families First Coronavirus Response Act (“FFCRA”), which became effective April 1, 2020, requires covered employers (generally those with
fewer than 500 employees) to provide Emergency FMLA Leave and Emergency Paid Sick Leave to qualifying employees who are unable to telecommute because of specific COVID-19 related reasons. We wrote about the FFRCA’s main provisions here, and the U.S. Department of Labor’s FFCRA guidance here. Importantly, the FFCRA provides private employers with a refundable dollar-for-dollar payroll tax credit for the mandated leave. The tax credits and leave requirements were originally set to expire on December 31, 2020.
Tuesday, December 29, 2020
The new COVID-19 stimulus package is now law. As discussed below, it provides some employers an incentive to extend certain COVID-19 related leave benefits through Q1 2021.
Optional FFCRA Tax Credits Extended Through March 31, 2021
The Families First Coronavirus Response Act (“FFCRA”), which became effective April 1, 2020, requires covered employers (generally those with
fewer than 500 employees) to provide Emergency FMLA Leave and Emergency Paid Sick Leave to qualifying employees who are unable to telecommute because of specific COVID-19 related reasons. We wrote about the FFRCA’s main provisions here, and the U.S. Department of Labor’s FFCRA guidance here. Importantly, the FFCRA provides private employers with a refundable dollar-for-dollar payroll tax credit for the mandated leave. The tax credits and leave requirements were originally set to expire on December 31, 2020.