Tax Credit Extension for Paid Sick Leave
In the new $900B COVID Relief Bill, Tax Credits for Emergency Paid Sick Leave and EFMLA will be extended to March 31, 2021. The relief bill just became law. It answers the question of whether federal Emergency Paid Sick Leave (EPSL). It also stipulates that the Emergency Family and Medical Leave (EFMLA) will be extended.
The answer is yes, but it’s an option, not a requirement. Here’s what employers need to know:
Extension of several other benefits from previous coronavirus-related legislation
The new law also extends or revives several other benefits from previous coronavirus-related legislation, some of which are listed below. Such legislation includes but not limited to the FFCRA and the PPP.
These aspects of the law are outside the scope of our services, so we are unable to answer follow-up questions.
Some of the notable provisions include:
We will keep you posted on future developments on the tax credit extension and clarifications as they become available.
NPR has a nice coverage of the details of this tax credit extension for your further reading. Check it out.