November 26, 2022

Volume XII, Number 330

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November 23, 2022

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IRS Issues Guidance FAQs Regarding the Paid Family Leave Federal Tax Credit

This week, the Internal Revenue Service (IRS) issued FAQ guidance regarding the employer tax credit for paid family and medical leave. As a reminder, the Tax Cuts and Jobs Act of 2017 (the Act) provides a tax credit to employers that voluntarily offer paid family and/or medical leave to employees. The FAQs clarify some of the requirements in Section 45S of the Act that an employer’s paid family and/or medical leave policy must include. The FAQs also clarify other details, such as the basis for the credit and the tax credit’s impact on an employer’s deduction for wages paid to an employee who is on a qualifying leave.

For information on how to determine if your company can take advantage of the paid family and medical leave tax credit, read our earlier article on this topic. 

Jackson Lewis P.C. © 2022National Law Review, Volume VIII, Number 110
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About this Author

Megan Holstein Health Management Lawyer Jackson Lewis
Principal

Megan Holstein is a Principal in the Denver, Colorado, office of Jackson Lewis P.C. Her practice focuses on disability, leave of absence, workplace accommodations and health management issues.

Ms. Holstein advises and represents employers regarding disability, paid sick and family leave, and accommodation administration, compliance audits, policies, training, and health management issues. She has extensive experience focusing on the Family and Medical Leave Act, the Americans with Disabilities Act, and their state law...

303-876-2228
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