President Biden signed the American Rescue Plan Act of 2021 (ARPA) into law on March 11, 2021. It provides an estimated $1.9 trillion in stimulus to aid COVID-19 recovery efforts. Included in the Act are many provisions intended to support both individuals and businesses. Here, we highlight FFCRA Paid Leave Credits:
ARPA also serves to extend tax credits for employer-provided paid sick leave (first created under the FFCRA, September 30, 2020). This further increases wages covered by the FFCRA to $12,000 per worker (and increase of $2,000). It covers as many as 60 days of paid family leave for self-employed workers (10 more) and keeps employers from receiving credits should their paid leave favor highly compensated employees, full-time workers or employees based on tenure.
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The information contained in this article is intended for educational purposes and to provide a general understanding of regulatory events, legislative changes and the law – not to provide specific legal advice.