Tag Archives: FMLA

Tax Credit for employees on FMLA

The Internal Revenue Service (“IRS”) recently issued the 2018 Form 8994 for eligible employers to complete to receive the Employer Credit for Paid Family and Medical Leave (“Employer Credit”). The Employer Credit was signed into law by President Trump on December 22, 2017 as part of the Tax Cuts and Jobs Act. The Employer Credit enables eligible employers to claim a general business credit for employees on paid family and medical leave. The Employer Credit is available for years beginning after 2017 and before 2020, and ranges from 12.5% to 25% of wages paid to a qualifying employee while the employee is on family and medical leave. Employers that qualify may claim or elect not to claim the Employer Credit any time within three (3) years from the due date of their return on either an original return or an amended return.

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Massachusetts raises minimum wage and enacts family leave

Massachusetts now joins California, New York and Washington, D.C. as the only states to have both a $15 minimum wage and mandatory paid family and medical leave.  It also eliminates some mandatory overtime rules, and gradually phases in over 5 years.  If you are a Massachusetts-based employer or have employees there, this is a must read.  Click here.

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Reeve Conover is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/dealer member FINRA/SPIC. Cambridge and Conover Consulting are not affiliated. Licensed in SC, NC, NY, CT, NJ, and CA.
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