Reimbursement for Paid Leave from Coronavirus

Reimbursement for Paid Leave from Coronavirus



“ Attached is guidance sent last night from the US Treasury on reimbursement for providing paid leave related to the Coronavirus. This reimbursement is geared to mid and small businesses with less than 500 employees. Self- employed individuals are also eligible for the credits. The reimbursement is in the form of payroll tax credits. If the amount of the credits due exceeds the amount of the reimbursement the business can file a request for an accelerated credit for the balance.

We are awaiting details of phase 3 of relief for small businesses and individuals which is expected early this week. “

 

Please see link below:

 

 

https://home.treasury.gov/news/press-releases/treasury-irs-and-labor-announce-plan-to-implement-coronavirus-related-paid-leave-for-workers-and-tax-credits-for-small-and-midsize-businesses-to-swiftly-recover-the-cost-of-providing-coronavirus-related-leave

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