IRS Announces Effective Date for Payroll Tax Credits Under COVID-19 Legislation | Practical Law
The Internal Revenue Service (IRS) has provided the effective date for refundable payroll tax credits regarding sick leave and family leave wages that must be paid under the Families First Coronavirus Response Act (Pub. L. No. 116-127). Under the IRS guidance (Notice 2020-21), the tax credits are available for wages paid for the period between April 1, 2020, and December 31, 2020.