Virus Tax Credits For Paid Leave Take Effect April 1, IRS Says

Tax credits for sick and family leave under the second round of economic relief for the novel coronavirus pandemic will be applied to wages paid starting April 1 and ending Dec. 31, the Internal Revenue Service has announced.

The incentives for providing sick leave and family leave as required under the Families First Coronavirus Response Act , or H.R. 6201, will apply to wages paid starting April 1 and through the end of 2020, the IRS said in a notice Friday. Tax credits provided to compensate for leave taken by self-employed people will apply to the same period, according to the notice.

President Donald Trump signed H.R. 6201 on March 18. That was the second of three laws passed by Congress thus far to curb the economic fallout from the global spread of the virus, which causes the respiratory disease COVID-19.

--Editing by Vincent Sherry. 

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