April 1, 2020

The distribution of economic impact payments will begin soon and will be distributed automatically, with no action required for most people. However, some seniors and others who typically do not file returns will need to submit a simple tax return to receive the stimulus payment.

Paid Leave, Sick & Child Care Credits

Gives all American businesses with fewer than 500 employees funds to provide employees with paid leave, either for the employee's own health needs or to care for family members.

Employees can receive two weeks (up to 80 hours) of paid sick leave at 100% of the employee's pay where the employee is unable to work because the employee is quarantined, experiencing symptoms, seeking a medical diagnosis. An employee who is unable to work because of a need to care for a quarantined individual or a child whose school is closed and is experiencing substantially similar conditions as specified by the U.S. Department of Health and Human Services can receive two weeks (up to 80 hours) of paid sick leave at 2/3 the employee's pay. This employee may also in some instances receive up to an additional ten weeks of expanded paid family and medical leave at 2/3 the employee's pay.

Employers may also receive a refundable sick leave credit at the employee's regular rate of pay, up to $511/day and $5,110 in the aggregate, for a total of 10 days.

Employers may also receive a refundable child care leave credit. This credit is equal to two-thirds of the employee's regular pay, capped at $200/day or $10,000 in the aggregate.

Click here for more detailed information with examples regarding the Payroll Credits - for Paid Leave, Sick, Child and Employee Retention

Tax Day now July 15:

The Treasury Department and Internal Revenue Service announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020.


For taxpayers under an existing Installment Agreement, payments due between April 1 and July 15, 2020 are suspended. Taxpayers who are currently unable to comply with the terms of an Installment Payment Agreement, including a Direct Debit Installment Agreement, may suspend payments during this period if they prefer. Furthermore, the IRS will not default any Installment Agreements during this period. By law, interest will continue to accrue on any unpaid balances.

$1,200 Checks

Tax filers with income up to $75,000 for individuals and $150,000 for married couples filing joint, will receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds. Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible. Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive an economic impact payment of up to $1,200 for individuals or $2,400 for married couples. Parents also receive $500 for each qualifying child.

Employee Retention Credit

The Treasury Department and the Internal Revenue Service yesterday launched the "Employee Retention Credit", 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 receipts have decreased 50% this quarter vs the comparable quarter in 2019.

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Recent Articles

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Economic Stimulus Overview
What You Need To Know
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Tax Day Changes
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Payroll Credits
Paid Leave, Family Leave, Sick Leave
Employee Retention