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January 29, 2021

IRS updates FAQs on tax credits for paid sick leave and family leave

The IRS has announced (IR-2021-26) updates to FAQs regarding recent legislation that extended and amended tax relief to certain small- and mid-sized employers under the Families First Coronavirus Response Act (FFCRA). In part, the updates address how the Tax Relief Act of 2020, enacted December 27, 2020, extends the availability of the tax credits created by the FFCRA to eligible employers for paid sick and family leave provided through March 31, 2021.