The U.S. Senate has passed the House’s version of the Families First Coronavirus Response Act with no changes. President Trump signed it into law on March 18. Congress is now working on more legislation intended to help deal with the spread of the coronavirus (COVID-19) and the implications for individuals and businesses. The new law provides paid leave benefits to employees, tax credits for employers and self-employed taxpayers, and FICA tax relief for employers. Specifically, among other things, the law provides paid leave benefits for employees who 1) work for employers with fewer than 500 employees, and 2) have been on the job at least 30 days. Contact us for additional details.
Post-disaster recovery: tax relief options
