ARTICLE
As part of the Families First Coronavirus Response Act, employers who provide paid leave for the following individuals are eligible for a tax credit: 1. Direct Impact (i.e., employees were under a government order or medical advice to quarantine or seeking medical attention), 2. Indirect Impact (i.e., employees were caring for someone directly impacted, but not due to School/Care Closing), or 3. School/Care Closing (i.e., employees were caring for a child (under 18 or incapable of self-care due to disability) whose school/place of care closed or whose care provider was unavailable)? Latham and Watkins LLP have shared a visual aid to help business owners know whether or not they qualify for these instances and how to go about getting these tax credits, the total caps and more. Click here to download the visual aid >>
As part of the Families First Coronavirus Response Act, employers who provide paid leave for the following individuals are eligible for a tax credit:
1. Direct Impact (i.e., employees were under a government order or medical advice to quarantine or seeking medical attention),
2. Indirect Impact (i.e., employees were caring for someone directly impacted, but not due to School/Care Closing), or
3. School/Care Closing (i.e., employees were caring for a child (under 18 or incapable of self-care due to disability) whose school/place of care closed or whose care provider was unavailable)?
Latham and Watkins LLP have shared a visual aid to help business owners know whether or not they qualify for these instances and how to go about getting these tax credits, the total caps and more.