March 1 2020

COVID-19 pandemic: emergency tax measures – Joint Committee on Taxation issues report on employer tax credit

Source: IBFD Tax Research Platform News

The Joint Committee on Taxation of the US Congress (JCT) released a report that provides a technical explanation of Division G, "Tax Credits for Paid Sick and Paid Family and Medical Leave" of HR 6201, the "Families First Coronavirus Response Act" as received in the US Senate on 17 March 2020.

The report is entitled Technical Explanation of Division G, "Tax Credits for Paid Sick and Paid Family and Medical Leave," of H.R. 6201, the "Families First Coronavirus Response Act".

The report is dated 17 March 2020 and is designated JCX-10-20.

The Families First Coronavirus Response Act (HR 6201) includes an employer tax credit for the paid sick and family leave required as part of the bill. The tax credit is intended to cover the cost to businesses of providing paid leave to address the coronavirus disease (COVID-19) pandemic.