National Association of Counties Article setting out the bill

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The bill also grants employees of employers with fewer than 500 employees and government employers, who have been on the job for at least 30 days, with the right take up to 12 weeks of job-protected leave under the Family and Medical Leave Act to be used for COVID-19-related medical situations. This also includes leave to care for a child if the child's school or place of care has been closed, or the child-care provider is unavailable, due to coronavirus.

After the two weeks of paid leave, employees will receive a benefit from their employers that will be no less than two-thirds of the employee's usual pay.

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Have any tax professionals received information on how Small Businesses are supposed to comply with this and can they get their refundable credit quarterly or only once per year? Not a business owner, just wondering how long small businesses are expected to foot the bill for this before getting a credit against their employee social security taxes.

brownbrick said:

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National Association of Counties Article setting out the bill

Quote:

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The bill also grants employees of employers with fewer than 500 employees and government employers, who have been on the job for at least 30 days, with the right take up to 12 weeks of job-protected leave under the Family and Medical Leave Act to be used for COVID-19-related medical situations. This also includes leave to care for a child if the child's school or place of care has been closed, or the child-care provider is unavailable, due to coronavirus.

After the two weeks of paid leave, employees will receive a benefit from their employers that will be no less than two-thirds of the employee's usual pay.

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Have any tax professionals received information on how Small Businesses are supposed to comply with this and can they get their refundable credit quarterly or only once per year? Not a business owner, just wondering how long small businesses are expected to foot the bill for this before getting a credit against their employee social security taxes.

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The house will have to pass the payroll tax relief.

That's pretty much the only way small businesses can manage this.

Edited to remove politics as much as possible. I forgot what forum I was on.

Posted as a fact finding question, staff can move if it gets too political.

I'm not sure how I'll be able to keep doors open if this is taken advantage of.

I understand the concern, but we also need to make sure there are jobs to come back to, once we're on the other side of this. I feel like that obvious/basic fact is being ignored.

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Seriously we're all going to hurt from this. The question is how bad. If we all sacrifice a little (even the government) then we make it. If we're all making power plays then everyone falls and we tumble into a steep depression.

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Absolutely. We're going to have to get pretty creative to solve this monster of a problem. Agreed that payroll tax relief is one piece, but what about those who are not being paid during this time.

Makes you wish we could just push a pause button on all debt burdens for a period of time to provide relief for housing / leasing / costs and make this a period where our #1 concern is keeping the healthcare afloat, food supplied, and basic services in place. Would allow for non-essential business to pause and hopefully restart on the other side. That's greatly simplifying things, I know.