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  3. Treasury, IRS and Labor announce plan to implement Coronavirus-related paid leave

Treasury, IRS and Labor announce plan to implement Coronavirus-related paid leave

Submitted by Eck, Schafer & Punke, LLP on March 23rd, 2020

Below is the link to IRS News Release IR-2020-57 regarding Coronavirus-Related Paid Leave for Workers and Tax Credits for Businesses.

This was released on Friday March 20th as a follow up to the Families First Coronavirus Response Act which was signed into law by the President on Wednesday March 18th. 

https://www.irs.gov/newsroom/treasury-irs-and-labor-announce-plan-to-implement-coronavirus-related-paid-leave-for-workers-and-tax-credits-for-small-and-midsize-businesses-to-swiftly-recover-the-cost-of-providing-coronavirus

We recommend you interpret these Federal relief provisions in conjunction with the Coronavirus provisions enacted in each state you do business.  Illinois Governor J.B. Pritzker’s Executive order released on Friday is linked here for reference.

https://www2.illinois.gov/IISNews/21288-Gov._Pritzker_Stay_at_Home_Order.pdf

If you have questions, please contact us.

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