The speed in which the Congress and various federal agencies have acted in response to the coronavirus outbreak has caused confusion among employers about what they must do to comply with these new laws and regulations. To assist employers we have compiled a list of fact sheets, Q&As and FAQs produced by several governmental agencies that will hopefully provide some clarity.
As always, you can contact Lindabury’s Labor & Employment group with any questions you may have.
US DOL Employee Rights Under the FFCRA poster required to be posted by employers: The FFCRA mandates that employers prominently display this poster in the workplace by April 1, 2020. The poster can be downloaded here.
The US DOL’s THIRD Q & A on the New Paid Leave Requirements Under the FFCRA: This publication expands upon the previous two FAQ’s addressing employee eligibility and employer obligations for these new leave requirements. This 59 question publication can be found here.
US Treasury Fact Sheet on the SBA Paycheck Protection Program under the CARES ACT: The Fact Sheet provides valuable information about small businesses who want to take advantage of the Payroll Protection Program designed to encourage employers to retain employees through forgivable SBA loans to cover payroll and other business expenses for an eight week period through June 30, 2020. The US Treasury Fact Sheet can be found here.
IRS Business FAQs on Tax Credits for Required Paid Leave under the FFCRA: This IRS publication contains 68 questions and answers that provide valuable insight to employers on how to take advantage of the tax credits for the new paid leave mandates of the FFCRA. Following a concise overview of the paid sick and family leave requirements, the questions are grouped into topical sections, including the following:
- Basic FAQs
- Determining the Amount of the Tax Credit for Qualified Sick Leave Wages
- Determining the Amount of the Tax Credit for Qualified Family Leave Wages
- Determining the Amount of Allocable Qualified Health Plan Expenses
- How to Claim Credits
- How Should an Employer Substantiate Eligibility for Tax Credits for Qualified Wages?
- Periods of Time for Which Credits are Available
The IRS’s FAQs on Tax Credits can be found here.