Families First Coronavirus Response Act: Credits for the Self-Employed

On March 18, 2020, the President signed the Families First Coronavirus Response Act (Coronavirus Response Act) which increases funding for various programs and addresses paid sick and family leave, including tax credits for employers and self-employed persons. The Coronavirus Response Act requires employers with fewer than 500 employees to provide paid leave to employees who […]

Three New Credits for Businesses Hit by COVID-19

Employers affected by COVID-19 have three important new credits available to them. Employee Retention Credit: The employee retention credit is designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. […]

Income Tax Topics