To Enable More Vaccinations, Treasury Expands Paid-Leave Tax Credit
Credit is now available for providing leave to employees helping others get vaccinated. Employers can now claim tax credits based on the wages of employees who take time off to help family or household members, or others who look to the employee for caregiving help, to get vaccinated for COVID-19.
On July 29, the Treasury Department and the IRS posted the new guidance on the paid-leave tax in updated FAQs on the IRS website. The new guidance “gives employers further opportunity to support the health and safety of their employees’ families and communities without placing an undue burden on their business during the pandemic,” according to a Treasury Department announcement.
