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First Coronavirus Response ACT (FFCRA)

April 16, 2020

Paid Sick and Family Leave Tax Credits – FAQ’s

The US Department of the Treasury and the IRS released guidance for small and mid-size employers regarding refundable tax credits that reimburse them for the cost of providing their employees paid sick and family leave wages related to COVID-19. The Families First Coronavirus Response Act (FFCRA) gives businesses with fewer than 500 employees funds to provide employees with paid sick leave and family and medical leave related to the pandemic.

  • Eligible employers can receive a credit in the full amount of the qualified sick leave and family leave wages paid for between April 1, 2020 and December 31, 2020.
  • Employers can be reimbursed immediately by reducing their federal employment tax deposits. If there are insufficient federal employment taxes to cover the amount of the credits, employers may request an accelerated payment from the IRS

Read more information on small and mid-size business tax credits for paid sick and family leave.

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