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U.S. Treasury, IRS, and Labor Announce Implementation of Coronavirus-Related Paid Leave for Workers and Tax Credits for Small and Midsize Businesses

23 March 2020

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Approved Changes

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United States

On 20 March 2020, the U.S. IRS issued a release on the implementation of the relief to employees and small and midsize businesses provided under the Families First Coronavirus Response Act, signed by President Trump on 18 March 2020. The release includes the following key takeaways: Paid Sick Leave for Workers For COVID-19 related reasons, employees receive up to 80 hours of paid sick leave and expanded paid child care leave when employees' children's schools are closed or child care providers are unavailable. Complete Coverage Employers receive 100% reimbursement for paid leave pursuant to the Act. Health insurance costs are...