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DISCLAIMER: This blog is published for general information only - it is not intended to constitute legal advice and cannot be relied upon by any person as legal advice.  U.S. Treasury Regulations require us to notify you that any tax-related material in this blog (including links and attachments) is not intended or written to be used, and cannot be used, for the purpose of avoiding tax penalties, and may not be referred to in any marketing or promotional materials.  While we welcome you to contact our authors, the submission of a comment or question does not create an attorney-client relationship between the Firm and you. 

Entries in Benefit Programs (2)


New Tax Credit for Paid Leave – Part 2: IRS Issues Helpful Guidance

As expected, the IRS recently issued additional guidance concerning the new paid leave tax credit codified as Code Section 45S. (You can read Part 1 of this series here.)  The guidance, set forth in IRS Notice 2018-17, is presented in the form of 34 questions and answers.  The questions and answers provide guidance to help determine which employees are “qualified” for purposes of the credit, how a year of service is determined, what constitutes wages, how the credit is calculated, and numerous other details.  The questions and answers are highly detailed and this post does not provide a complete review of them. 

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New Tax Credit for Paid Leave: What Benefits Professionals Should Know

The 2017 Tax Cuts and Jobs Act contains a two-year pilot project, developed by Senators Angus King (I-ME) and Deb Fischer (R-NE), that provides a tax credit to employers that offer at least two weeks of paid leave to low and moderate income employees.  If your company already offers paid leave, it may be able to take advantage of the credit.  If your company has been considering a paid leave policy, this may be the time to implement it. 

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