Домой United States USA — Financial Key COVID-19 legislation for businesses and people

Key COVID-19 legislation for businesses and people


Extended family leave, tax credits and delayed payment of payroll taxes are among some highlights.
In response to the COVID-19 pandemic, the federal government passed three phases of legislation and a slew of administrative guidance.
Phase 1 primarily provides emergency funding to various federal agencies. But provisions in Phase 2 — known as the Families First Coronavirus Response Act, or FFCRA — and Phase 3 — the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act — benefit businesses and individuals.
Here are key provisions of the FFCRA and CARES Act.
Expansion of the Family Medical Leave Act: Generally and until Dec. 31, employees working for an employer with less than 500 employees for at least 30 calendar days are eligible for additional FMLA leave if he or she cannot work because he or she is required to care for a child due to certain COVID-19 related circumstances. The additional FMLA leave period is up to 10 weeks.
Emergency paid sick leave: Until Dec. 31, employers with less than 500 employees are generally required to provide up to 10-days — or 80 hours — of paid emergency sick leave if an employee cannot work due to certain COVID-19 related circumstances.
Circumstances include being subject to a government quarantine order and caring for a child because the child’s child care provider is unavailable due to COVID-19 precautions.
Tax credits for businesses providing expanded paid family leave and paid emergency sick leave: Employers required to make expanded FMLA or emergency sick leave payments are generally entitled to a refundable credit against the employer portion of Social Security taxes for such payments.

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