IRS Issues Guidance on Tax Credits for Coronavirus Paid Leave
Small and midsize employers may begin using two new refundable payroll tax credits to obtain reimbursement for the costs of providing coronavirus-related leave to their employees, the U.S. Department of Labor (DOL) and Internal Revenue Service (IRS) announced on March 20, 2020. According to IRS Notice 2020-12, these credits are available for qualified leave wages…