The IRS has updated the 123 refundable tax credit Frequently Asked Questions (FAQs) on its website to clarify that eligible employers may claim the paid sick and family leave tax credits added by the American Rescue Plan Act of 2021 for providing leave to employees relating to obtaining COVID-19 immunizations.
The updated FAQs clarify that eligible employers can claim the credits for providing leave to employees to accompany a family or household member or certain other individuals to obtain immunization relating to COVID-19 or to care for a family or household member or certain other individuals recovering from the immunization.
The IRS originally issued the FAQs in June, making the credits available to employers with fewer than 500 employees and certain governmental employers for qualified sick and family leave wages paid with respect to leave taken by employees beginning on April 1, 2021, through Sept. 30, 2021. The press release also clarifies that this new basis for paid sick or family leave also applies for the comparable credits for self-employed individuals.
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