On December 20, 2019, the President signed the Further Consolidated Appropriations Act, 2020 to keep the federal government running through September 2020. The Act included a one-year extension to the federal tax credit available to employers who provide paid family and medical leave.
The Tax Cuts and Jobs Act, enacted in December 2017, included a new federal tax credit for eligible employers based on wages paid to employees on family medical leave. The Further Consolidated Appropriations Act, 2020 extends that tax credit on wages paid to employees on family medical leave in taxable years beginning after December 31, 2017, and before January 1, 2021.
The Compliance Advisor Federal Tax Credit for Employer-Provided Paid Family and Medical Leave has been updated to include information about the extension and to refresh the Advisor with the current UBA branding.
Log in to AdEase from the Wisdom Network to download the yodated Advisor.
Questions? Contact Karen Hsu at khsu@ubabenefits.com or Matt Meidell at mmeidell@ubabenefits.com with compliance questions.
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