In light of the Families First Coronavirus Response Act signed into law on March 18, 2020, Integrated Payroll Services (IPS) wants to reassure clients we are equipped to handle the necessary payment requirements set forth should you be faced with employees requiring such compensation.
At the time of this email, there have been no changes regarding tax credits, however, rest assured we are monitoring any potential changes and will be prepared to handle any payroll tax credits put into effect.
The current law has two major provisions designed to assist American workers and families facing challenges presented by the COVID-19 pandemic. Generally, the leave provisions cover employers with fewer than 500 employees. However, the Secretary of Labor is authorized to issue regulations exempting employers with fewer than 50 employees if the law’s requirements will jeopardize the ongoing viability of a business.
- The Emergency Paid Sick Leave Act – requires covered employers to provide up to two weeks of paid sick leave for full and part-time employees to handle their own or another individual’s COVID-19 illness or quarantine, or to care for a child whose school or daycare provider is closed due to COVID-19.
- The Emergency Family and Medical Leave Expansion Act – requires covered employers to provide up to 12 weeks of partially paid emergency family leave to an employee whose minor child’s school or daycare is closed or unavailable due to the COVID-19 pandemic.
When you become faced with the need to pay these compensation types, please contact your specialist and we will work with you to individually setup and manage these items for your company.