Important Update: Families First Coronavirus Response Act
Yesterday, like other commentators, we reported that, in accordance with its terms, the Families First Coronavirus Response Act (“Act”) is effective on April 2, 2020. Please be aware, the U.S. Department of Labor (“DOL”) posted on its website a statement that the Act is effective on April 1, 2020. We assume this is not a premature April Fool’s joke. Accordingly, since DOL is the agency enforcing the non-tax aspects of the Act, we advise employers to ready themselves for the new law one day earlier than expected. It is better to be safe than sorry!
Posted in Federal Law, Legislation, Tax Laws
Tagged as Coronavirus, COVID-19, employees, employers, Fair Labor Standards Act, Families First Coronavirus Response Act, Family Medical Leave Act, income tax withholding, President Trump, Public Health Emergency Leave, self-employed individuals, sick leave, tax credits, Taxpayer, Treasury, US Department of Labor
