Vorys (Ohio/Texas): Claiming Federal Relief Tax Credits and Deferring Payroll Tax Payments

Recent Federal COVID-19 legislation provides employers with a number of new potential tax credits.  The FFCRA (Phase II relief) requires certain employers to provide COVID-19 related sick-leave and FMLA leave on or after April 1, 2020, while at the same time providing a refundable tax credit to most such employers for wages required to be paid under these new mandates (the Qualified Leave Credit).  The Qualifying Leave Credits are described in further detail in Vorys’ March 19 Client Alert: The Families First Coronavirus Response Act: What Employers Need to Know. MORE.

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