Families First Coronavirus Response Act, Federal Tax

COVID-19 Employer Credits Tool

The Taxpayer Advocate Service has launched a tool to determine eligibility for COVID-19 employer credits. Employers can use the tool to determine if they’re eligible to receive the employee retention credit or paid sick or family leave credits. The CARES Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the COVID-19 crisis (the retention credit). Under the Families First Coronavirus Response Act (FFRCA), small employers (fewer than 500 employees) whose employees receive paid sick or family leave required by the FFRCA are entitled to paid sick or family leave credits. Check out the tool. For questions, contact Cg. © 2020