On Friday, March 20, the U.S. Treasury Department, IRS and U.S. Department of Labor announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits designed to immediately and fully reimburse them for the cost of providing COVID-19 related leave to their employees. Additional guidance, including how to claim the credits in advance, is being prepared and will be posted to the Coronavirus Tax Relief page on IRS.gov as soon as it is available.
Please refer to Coronavirus Tax Relief on IRS.gov with questions, or reach out to our office if you need assistance.
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