Treasury Secretary Sets Credit Start Date

Chiesa Shahinian & Giantomasi PC
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As discussed in our alert about the tax credits under the Families First Coronavirus Response Act,  the credits are available from the date set by the Treasury Secretary through December 31, 2020. In Notice 2020-21, the IRS announced that employment tax credits for paid qualified sick leave wages and paid qualified family leave wages will apply to wages and compensation paid for periods beginning on April 1, 2020 and ending on December 31, 2020. The Notice can be found here.
 

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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