In response to COVID-19, the federal government has passed the Families First Coronavirus Relief Act (FFCRA) and Coronavirus Aid, Relief and Economic Security (CARES) Act. The FFCRA provides tax credits for employers so that employees can stay home while they are sick with COVID-19, care for someone sick with COVID-19, or care for children who cannot attend school or day care due to closure. The CARES Act provides other tax credits, forgivable loans, and grants to small businesses so that businesses survive and Americans stay employed. Both of these acts offer significant tax credits up to 100 percent of eligible expenses paid to employees during this time.
WHT has developed a Coronavirus Relief Guide to help your business and/or nonprofit understand this recently enacted federal legislation during these difficult and uncertain times. You can access the guide below. If you have any questions or need any additional resources, please call us at 859.422.6000.