Archives for April 2020

Labor Department Answers Questions About COVID-19 Leave Policies

Note that all Sheehey guidance regarding COVID-19 is subject to change, as the legal landscape is evolving rapidly. Please note the date of publication for this bulletin, and be aware that things may have changed since then. Please check our COVID-19 landing page for the most up-to-date posts and contact us with any questions.

The United States Department of Labor (DOL) has issued a detailed memo, in question and answer format, about the paid sick leave and the expanded family and medical leave contained in the recently enacted Families First Coronavirus Response Act (FFRCA), i.e., the second coronavirus (COVID-19) relief legislation. While the memo is mostly about the leave provisions themselves, it does contain some information about the employer tax credits that are based on the leave provisions.

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Explaining The Employee Retention Credit

Note that all Sheehey guidance regarding COVID-19 is subject to change, as the legal landscape is evolving rapidly. Please note the date of publication for this bulletin, and be aware that things may have changed since then. Please check our COVID-19 landing page for the most up-to-date posts and contact us with any questions.

The CARES Act provides for an Employee Retention Credit that eases employers’ burden of maintaining payroll as the COVID-19 crisis unfolds. If a business is negatively impacted by the COVID-19 Pandemic, then the business may be eligible for a credit to apply against federal payroll taxes.

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The CARES Act: Relief For Individuals And Tax Consequences Part II

Note that all Sheehey guidance regarding COVID-19 is subject to change, as the legal landscape is evolving rapidly. Please note the date of publication for this bulletin, and be aware that things may have changed since then. Please check our COVID-19 landing page for the most up-to-date posts and contact us with any questions.

As discussed in our previous post on this topic, the CARES Act provides for payments to individuals to help them stay afloat during this crisis.  In addition, it also waives or alters certain tax rules as discussed below.

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