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On March 11, 2021, President Biden signed H.R.1319 - American Rescue Plan Act of 2021 (“Rescue Plan”) into law a $1.9 trillion stimulus bill. Here are five things every employer should know about the bill.
1. FFCRA Tax Credits Have Been Extended
The Rescue Plan extends the Families First Coronavirus Response Act (FFCRA) tax credit provisions again through September 30, 2021. (The ability to recoup the cost of FFCRA leave was previously extended in December 2020 through March 31, 2021: See related article here. Employers that opt to voluntarily provide FFCRA leave will be credited 100 percent for all qualifying wages paid under the FFCRA.
The Gaston Gazette
As a child growing up in Queens, New York, Kelly Whitesides knew what it meant to worry about where her next meal was coming from. I know how important this program is, she said, as she stood with her husband Sam in the BackPack Weekend Food Program warehouse on Linwood Road in Gastonia. I was one of those kids when I was young, she continued. I like the way this program works. I like the way the kids receiving the food are not singled out or embarrassed. I like the good this program does.
Whitesides had volunteered with the program several years ago, but she and her husband, Sam, had their interest renewed when they read a recent front-page column in
Rescue Plan Resuscitates FFCRA Tax Credits! | Ruder Ware jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
Monday, March 15, 2021
On March 11, 2021, the
American Rescue Plan Act of 2021 (the Rescue Plan ) was passed and signed into law. Employers should be aware of the key employment provisions of the Rescue Plan in managing their workforce and in evaluating and implementing their COVID-19 workplace policies and procedures.
Extending and Expanding the Payroll Tax Credits for Leaves Voluntarily Provided Under the Family First Coronavirus Response Act ( FFCRA )
The FFCRA required public employers and private employers with fewer than 500 employees (with limited exceptions) to provide paid leave for qualifying reasons related to COVID-19. The FFCRA s sunset date was December 31, 2020, at which time the mandate to provide leave expired. Covered private employers who provided FFCRA leave were able to claim a tax credit for the payments made during the leave, subject to per diem and total caps.
Q: What Does the $1.9 Trillion American Rescue Plan Mean for
Employers?
A: On March 11, nearly a year after the enactment of the Families First Coronavirus Response Act
(FFCRA) and CARES Act, and three months after the
enactment of the Consolidated Appropriations Act of 2021,
President Biden signed a sweeping $1.9 trillion stimulus package
called the American Rescue Plan. The headline-grabbing
elements of the American Rescue Plan include $1,400 direct payments
to individuals earning below a certain income threshold, $160
billion for COVID-19 vaccine and testing programs, and $360 billion
for aid to state, local, and territorial governments. Critical to
employers, the American Rescue Plan once again extends federal