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New FFCRA reporting requirements issued

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Tax Hot Topics newsletter In Notice 2020-54, the IRS provides guidance to employers on the reporting requirements for amounts of qualified sick leave wages and qualified family leave wages paid to employees pursuant to the Families First Coronavirus Response Act (FFCRA). Employers are required to report these amounts either on Form W-2, Box 14, or on a separate statement. The required reporting also provides self-employed individuals with the information necessary for properly claiming qualified sick leave equivalent or qualified family leave equivalent credits under the FFCRA.

Contacts:
Jeff Martin
Partner
Washington National Tax Office
T +1 202 521 1526

Keith Mong
Managing Director
Washington National Tax Office
+1 202 521 1554

James Sanchez
Senior Associate
Washington National Tax Office
+1 202 861 4107

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