The comprehensive tax reform bill signed by President Trump last December included a little-noticed provision that allows employers to take a tax credit if they provide employees with at least two weeks of qualifying paid family and medical leave.
The Internal Revenue Service (IRS), the agency responsible for administering and enforcing the federal tax code, published a short series of Frequently Asked Questions (FAQs) earlier this year regarding how the credit can be applied, and promising to issue additional guidance in the future.
The IRS recently published that additional guidance in the form of a Notice (2018-71) contained in Internal Revenue Bulletin Number 2018-41 (October 9, 2018), and is asking for public comments on the document in anticipation of developing final implementing regulations. Comments are due by November 23, 2018.
Members of the Center for Workplace Compliance (CWC) can read more here.