Employer Family and Medical Leave Credit – Did You Know?
If you are an employer who provided family and medical leave to your employees during 2018 and 2019, you may qualify for a new business tax credit.
To be eligible, you must:
– Have a written policy that meets certain IRS requirements
– Provide at least two weeks of paid family and medical leave to full-time employees, and a prorated amount of paid leave for part-time employees
The credit may be available for wages paid during taxable years after Dec. 31, 2017, and before Jan. 1, 2020, and is generally 12.5 to 25 percent of paid family and medical leave for those employees that qualify.