According to the White House, this tax credit will apply to nearly half of all private-sector employees in America.

4/28/2021

Recently, President Joe Biden issued a call for
employers to take additional steps to help get their
employees and communities vaccinated against
COVID-19.

As part of that effort, President Biden announced a
paid leave tax credit for small- and medium-sized
businesses. This credit will allow eligible employers to
fully offset the cost of paid leave for employees to
get vaccinated and recover from any after-effects of
the vaccination.

Eligible employers include businesses and nonprofits
with fewer than 500 employees. The credit will offset
the cost of paid leave for each employee for up to
two weeks (or 80 work hours) and up to $511 per day
of paid leave offered between April 1 and Sep. 30,
2021.

The credit will be funded by the recently passed
American Rescue Plan Act.

Employer Takeaway

Employers should review how this tax credit may
impact their organization. To learn more about
eligibility for this tax credit and how to claim the paid leave credit on quarterly tax filings. You can find more information from the Internal Revenue
Service

Additionally, the White House has asked employers
to share how they are taking steps to get their
employees and communities vaccinated. If
interested, employers can access this form here.
Presidio Group will keep you updated on any
noteworthy developments.

Presidio Group