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 …

Tax credit on paid leave

From Employee Benefit Advisor 6/14/18.  For full story, click here:   The Family and Medical Leave Act already requires covered employers to allow eligible employees to take up to 12 weeks of unpaid leave. In an effort to encourage employers to offer paid leave, the recent Tax Cuts and Jobs Act of 2018 sweetened the deal by promising a tax …

FMLA Tax Credit Clarification

Trucker and Huss released a clarification on the recent tax credit for the Family and Medical Leave. “Section 13403 of the Act added the paid family and medical leave credit as a new general business credit under Internal Revenue Code (the “Code”) section 38. However, the credit is a temporary addition to the tax code because it only applies to …