Thank you to Melissa A Schiff, CPA, PC for this information. ~ email@example.com ~ 765-349-8272 ~ www.MelissaSchiffCPA.com
IF YOU HAVE ONE OR MORE EMPLOYEES – PLEASE READ THIS
On Wednesday, March 18, 2020, the U.S. Senate passed, and President Trump signed into law, the “Families First Coronavirus Response Act” (H. R. 6201). The legislation goes into effect on April 2, 2020, with required notification to employees March 25, 2020.
The Key factors in this flyer as explained below:
· New Law affecting employee paid time off effective 4/2/2020
· Employee notification of the new law required by 3/25/2020
· REQUIRED: Emergency Paid Sick Leave – 80 hours paid
· REQUIRED: EFMLA (expanded FMLA) – 12 weeks off, minimum 10 with partial payment
· Employers can be partially reimbursed, 90-120 days or more later
· Employees are eligible for additional unemployment benefits
· Secretary of Labor, Eugene Scalia, has an option to grant a waiver to employers with under 50 employees to whom this would jeopardize the viability of the business as a going concern
Read more by clicking on the download button below.
Please understand this is a new law and we are providing as much information as we can as soon as we have it. We are also condensing the information to focus on the key factors for our clients. The full bill is available HERE.