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COVID-19 Update: Families First Coronavirus Response Act

March 20, 2020

With non-essential type businesses shutting down (either voluntarily or state-ordered), business owners are worried and wondering whether they will be able to pay their bills and if they need (and how they can afford) to continue paying their employees. Similarly, workers who are not working because of business closure, having to take time off to care for their children while schools are closed, having been quarantined, or caring for a family member who is quarantined, are worried if and how they might receive their next paycheck.

On March 18, 2020 the President signed the Families First Coronavirus Act (H.R. 6201) which was intended to ease the burden stemming from the COVID-19 pandemic.  The Act provides family and medical leave, along with sick leave, to workers, while providing tax credits to employers and self-employed individuals.  These provisions are generally effective beginning on the date to be determined by the Secretary of the Treasury (but no later than April 2, 2020) through December 31, 2020.

We have prepared an overview titled COVID-19 Tax Update: Families First Coronavirus Response  Act on our blog, A Matter of Tax. In the summary, you will find information regarding:

  • Family and Medical Leave
  • Emergency Paid Sick Time
  • Employer Credits
  • Self-Employed Individuals
  • Employer FICA Exclusion
  • Reinstatement of Position After Leave
  • Notice Requirement
  • Additional Guidance

We strongly encourage you to review these provisions with your payroll provider to make sure you’re making the proper payments to affected employees and claiming the correct amount of credits.  The BLS Team understands that these provisions are overwhelming, and we are available to work with you and your payroll provider to get you through these trying times. Please do not hesitate to contact us at 302.225.0600 or info@belfint.com.

As always, be safe and stay well!

Your BLS Team

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