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Tax credits ease cost of extension of paid sick leave and FMLA

Two core elements of the Families First Coronavirus Response Act (FFCRA) that was signed into law on March 18 were the extension of paid sick leave benefits and Family Medical Leave Act (FMLA) benefits to employees affected by the COVID-19 outbreak working for employers with fewer than 500 employees and government employees. With many employers and self-employed individuals already feeling the financial effects on their businesses from social distancing and mandatory closures, the FFCRA includes provisions to help reduce the cost of these expanded benefits on affected employers though refundable tax credits. READ MORE