News & Analysis as of

Paid Time Off (PTO) Internal Revenue Code (IRC)

Rivkin Radler LLP

An Inveterate Golfer At the IRS

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As we approach the deadline for paying federal individual income taxes and, generally, for filing the returns on which such taxes are determined, some of you may be recalling how the Inflation Reduction Act of 2022...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Provides Guidance on PTO Donation Programs to Aid Victims of Hawaii Wildfires

On September 28, 2023, the Internal Revenue Service (IRS) issued updated guidance for employers that have adopted or are considering leave-based programs that allow employees to donate sick, vacation, or personal leave to...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs for Nonprofits - UPDATED March #3

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

Morgan Lewis

IRS Releases Guidance on Charitable Leave-Based Donation Programs

Morgan Lewis on

Charitable leave-based donation programs provide employees the option of donating leave that can be converted into cash contributions to charities assisting the victims of the novel coronavirus (COVID-19) pandemic....more

Dickinson Wright

Determining Eligibility for the Employer Credit for Paid Family and Medical Leave

Dickinson Wright on

Section 45S of the Internal Revenue Code (“Code”), added to the Code by the Tax Cuts and Jobs Act of 2017, establishes a general business credit for an employer who provides paid family and medical leave to qualifying...more

Vedder Price

IRS Issues Notice 2018-71 to Clarify Tax Credit for Paid Medical Leave

Vedder Price on

Any employer who offers employees paid family or medical leave may benefit from the new Internal Revenue Code Section 45S, added by the Tax Cuts and Jobs Act and clarified on September 24, 2018 by Internal Revenue Service...more

Verrill

New Tax Credit for Paid Leave: What Benefits Professionals Should Know

Verrill on

The 2017 Tax Cuts and Jobs Act contains a two-year pilot project, developed by Senators Angus King (I-ME) and Deb Fischer (R-NE), that provides a tax credit to employers that offer at least two weeks of paid leave to low and...more

Littler

IRS Issues FAQs on Paid Family and Medical Leave Tax Credit

Littler on

The IRS has issued FAQs to provide guidance to employers relating to portions of the newly enacted Tax Cuts and Jobs Act of 2017 that created the Paid Family and Medical Leave Tax Credit....more

Ballard Spahr LLP

Flexibility Offered for Deferred Compensation Plans of Tax-Exempt Organizations, Government Agencies

Ballard Spahr LLP on

The U.S. Treasury Department has issued two sets of proposed regulations, under Sections 457 and 409A of the Internal Revenue Code, relating to deferred compensation plans of state and local governments and tax-exempt...more

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