The Households First Coronavirus Response Act (FFCRA), signed by President Trump on March 18, 2020, offers small and midsize employers refundable tax credit that reimburse them, dollar-for-dollar, for the price of offering paid sick and household go away wages to their staff for go away associated to COVID-19.
The FFCRA provides companies with fewer than 500 staff funds to offer staff with paid sick and household and medical go away for causes associated to COVID-19, both for the worker’s personal well being wants or to look after members of the family. Yesterday the IRS issued steering by way of a Q&A to offer much-needed clarification for employers on accessing these tax credit.
