IRS Releases Guidance on Tax Credits for Vaccine Related Paid Leave
Post date
April 23, 2021
Body
Allen Smith, J.D. and Lisa Nagele-Piazza, J.D., SHRM
To encourage more widespread vaccinations, President Joe Biden highlighted a paid-leave tax credit for employers that provide full pay for employees who take time off to get and recover from a COVID-19 vaccination. The tax credit is available to organizations with fewer than 500 employees, covers up to $511 per day for each vaccinated employee.
The tax credit is funded through an existing program under the American Rescue Plan that provides tax credits to eligible employers that voluntarily provide paid leave for certain COVID-19-related reasons through Sept. 30.