The IRS has updated the paid sick and family leave tax credits under the American Rescue Plan Act of 2021 (ARPA). The update clarifies eligible employers can claim the credits for providing leave to employees to accompany a family or household member or certain other individuals to obtain immunization relating to COVID-19, or to care for a family or household member recovering from a COVID-19 vaccine. The paid sick and family leave credits reimburse employers for the cost of providing paid sick and family leave for reasons related to COVID-19, and applies for comparable credits for self-employed individuals. The ARPA has extended these credits to leave taken beginning April 1, 2021 through September 30, 2021. For more information on these credits, click here.
If you have any questions, please contact your Somerset advisor at 317.472.2200 or .