By SEMA Washington, D.C., Staff
The U.S. Treasury Department, Internal Revenue Service, and the 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, dollar-for-dollar, for the cost of providing Coronavirus-related leave to their employees.
The First Coronavirus Response Act signed into law by President Trump on March 18, 2020, provides paid sick and family leave, expands unemployment benefits and offers free coronavirus testing. The Act gives all American businesses with fewer than 500 employees funds to provide employees with paid leave, either for the employee's own health needs or to care for family members. The law will enable employers to keep workers on their payrolls, while at the same time ensuring that workers are not forced to choose between their paychecks and the public health measures needed to combat the virus.