Congress Enacts Mandatory Small Employer Paid Sick Time and Related Refundable Payroll Tax Credit

Congress Enacts Mandatory Small Employer Paid Sick Time and Related Refundable Payroll Tax Credit

The President signed into law yesterday the Families First Coronavirus Response Act to provide funding and other relief for those affected by COVID-19. The law includes new rules requiring employers of less than 500 employees to provide mandatory paid sick time and paid family leave and provides for a refundable payroll tax credit to offset the costs. The bill is new and guidelines will be forthcoming, but we wanted to provide you with information regarding the requirements as soon as possible. Our esteemed Arizona CPA colleague, Ed Zollars, has written up a great summary of the law.

We will be following developments regarding this law and others that may affect you and your business and will keep you apprised of relevant future developments