Below is information on government resources available to small and midsize businesses and their employees during this Covid-19 crisis. We’ve familiarized ourselves with these newly established acts and loan options, so please don’t hesitate to Request a Call should you have any questions.
- The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19.
- If you are planning to pursue the payroll tax credits offered to employers through the Families First Coronavirus Response Act for qualified leave wages, in order to claim these credits, you are required to collect from the employee requesting leave, specific leave-related information. We’ve put together a form that assists in capturing all the information you need. DOWNLOAD FREE FORM
- The Families First Coronavirus Response Act provides small and midsize employers refundable tax credits that reimburse them, dollar-for-dollar, for the cost of providing paid sick and family leave wages to their employees for leave related to COVID-19.
- The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.