Sick & Family Leave Acts – Summary
Greetings from home!
In the last few weeks with all of the tax deadlines extended, what has typically been ‘tax season’ for all of us has quickly morphed into coronavirus response and mitigation. We have been researching and learning about the new paid leave acts, tax credits, stimulus packages, SBA loans and the no-interest CT bridge loans. In addition, we have been taking continuing education and attended town-hall conference calls with our state representatives and the SBA in order to pass along pertinent information to you.
This is another one of a many-part series of communications you will receive from us regarding new tax benefits and mitigation opportunities that may be available. Please share this information with others.
This post will focus solely on the Families First Coronavirus Response Act; specifically, the two parts of this act which provide no-cost to employer paid sick, medical and family leave to employees though tax credits claimed on payroll tax returns. You can click the below links to see our limited analysis regarding these new acts.