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  • 1.  Families First Coronavirus Response Act

    Posted 03-19-2020 12:00

    How the 'Families First Coronavirus Response Act' will impact you

    The House and Senate have passed the "Families First Coronavirus Response Act" to address mandated sick leave for those infected with COVID-19.

    The Act, which provides billions of dollars to fund programs related to health and economic issues surrounding COVID-19, is being sent to the president.

    The Act provides for mandated paid emergency sick leave and paid family and medical leave for many American workers. To fully offset wages paid under the program, employers will receive a tax credit.

    And the emails are starting to come in.....

    Special tax rules?  How do we handle time off???  Post questions and solutions here please.



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    Jeff Schwenk
    FORMER 90M Board Member
    Bottomline Software, Inc.
    Waynesboro VA
    540-221-4444
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  • 2.  RE: Families First Coronavirus Response Act

    Posted 03-19-2020 13:36
    It doesn't say the wages will be non-taxable ( although who knows what the details will reveal ). I'd think to create a specific earnings code and time off code might work here?

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    Wayne Schulz - Schulz Consulting - 860-516-8990
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  • 3.  RE: Families First Coronavirus Response Act

    Posted 03-19-2020 18:55

    Does anyone remember back in 2009 when President Obama mandated employers had to bear the brunt of paying COBRA for terminated employees, and that we could get a tax credit back for doing so?  Arg!  I fear this is going to be the same thing – where the government says "Here's what we're going to do, and we'll figure out the why's and how's later."  We had two employees back then on COBRA, and we had a devil of a time proving that 1) they were terminated in the timeframe that the law took effect for COBRA; 2) that we paid for the medical coverage; and 3) then after that, trying to get our tax credits back from the government.

     

    Having said that, I agree with Wayne that I think what we need is a separate earnings code, just for the Families First Payments.  So far, no one has said anything about the wages being non-taxable – just that we could be reimbursed via credits against Payroll Taxes...

     

    Sue Bennett | President

    P. 503 620 3484 | F. 503 620 2765

    12559 SW 69th Ave | Portland, OR  97223

    sue@benpor.com   www.benpor.com
    Bennett/Porter Blogs | facebook | twitter

     

     

     

     



    ------Original Message------

    It doesn't say the wages will be non-taxable ( although who knows what the details will reveal ). I'd think to create a specific earnings code and time off code might work here?

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    Wayne Schulz - Schulz Consulting - 860-516-8990
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