Employer Paid Leave Requirements : Families First Coronavirus Response Act

H.R. 6201, known as the Families First Coronavirus Response Act in Division E, requires employers to provide each employee paid sick time for specific reasons.  A link to the law : https://www.congress.gov/116/bills/hr6201/BILLS-116hr6201enr.pdf 

The Department of Labor’s outline to be more helpful to explain the bill in more practical terms.  https://www.dol.gov/agencies/whd/pandemic/ffcra-employer-paid-leave

Here is what the IRS published about this topic:  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


2020 Tax Law Changes !!! Potential Delay in Estimated Tax Payment Dates !!!

POTENTIAL: Quarterly ES Payment Due Date Changes : Please stay tuned for updates because this bill has not become law and is subject to change.

Typically, quarterly estimated tax payments are due April 15th, June 15th, September 15th, & January 15th.

The current proposed bill put forth by the Republicans on March 19, 2020, allows for the first three payments (due April 15th, June 15th, September 15th) to be delayed and paid by October 15th.

Source: Senate Proposed “Coronavirus Aid, Relief, and Economic Security Act” or “CARES Act” : Section 2102(b)(1)

2020 Tax Law Changes

Several changes for 2020 are happening.  I will be sharing highlights of the proposed bill with you as the legislation works its way through the Senate and House.  Stay tuned….