Charles Read, CPA, USTCP, IRSAC
Find me on LinkedIn
Section 45S Employer Credit for Paid Family and Medical Leave Has Been Extended Through 2020
If you offer full paid sick days, you may be entitled to a tax credit of up to 25% of the wages paid.
Per the IRS, “Internal Revenue Code Section 45S provides a tax credit for employers who provide certain types of paid time off to employees. Eligible employers may claim the credit, which is equal to a percentage of wages they pay to qualifying employees while out on conditions similar to FMLA structure even while not being subject to FMLA.” You still have time to take credit for 2019.
Interested in learning more about GetPayroll services?
Are you shopping for new payroll services? Schedule a demo to see if GetPayroll is right for your business.
If you are a current GetPayroll customer (yay!), take a look at some of our new services that may help streamline your business operations.
Comments and Suggestions
Don’t forget to leave us a comment below and tell us what you think. If you have any requests or suggestions, we’d love those too!