From OMA Connections Partner Calfee: “The IRS recently issued guidance on the new employer paid leave tax credit (codified as Code Section 45S), which was included in the tax reform law passed late last year. Employers that implement written policies complying with the new IRS guidance (including administration of those policies) by year-end may take advantage of the tax credit for the 2018 tax year.
“The credit available to employers under the tax code can total between 12.5% and 25% of the qualifying wages paid for those qualifying leaves (depending on the percentage of pay provided to employees during leave). …”
Read more from Calfee about how to qualify for the tax credit. 10/23/2018