Where to get answers to questions on the new employer tax credit for paid family and medical leave
Posted Oct 22, 2018
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Do you have questions on the new employer tax credit for paid family and medical leave? If so, see the IRS’s new Q&As on the credit: https://bit.ly/2IKNIWU. The IRS published the Q&As after issuing guidance on the credit in Notice 2018-71. For wages paid in tax years starting in 2018 and 2019, eligible employers can claim a general business credit equal to the “applicable percentage” of the amount of wages paid to “qualifying employees” during any period in which such employees are on “family and medical leave.” The Q&As define many of the terms.
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