So basically today the IRS created a separate website that users can go look at and learn about that allows business owners to obtain money from every area to pay their employees. Make sure that your employer knows about this and you can now take off of work if you want to. Here is some info from the IRS and I will explain what It means after you see the new info below.

Key Takeaways

Paid Sick Leave for Workers For COVID-19 related reasons, employees receive up to 80 hours of paid sick leave and expanded paid child care leave when employees’ children’s schools are closed or child care providers are unavailable.

So what this basically means is that anyone who has children to take care of, well you get to get paid by your job for doing that now as well because the business owner is getting FREE MONEY for that. So go collect!

Complete Coverage Employers receive 100% reimbursement for paid leave pursuant to the Act. Health insurance costs are also included in the credit. Employers face no payroll tax liability. Self-employed individuals receive an equivalent credit.



So what this basically means is that the Government is giving the business owners free money to pay their employees for NOT WORKING. Basically, Go do nothing. That is your job now and you will receive the same pay. You are supposed to be OFF OF WORK NOW and you get to get full hourly wage RIGHT NOW for it.

Fast Funds Reimbursement will be quick and easy to obtain. An immediate dollar-for-dollar tax offset against payroll taxes will be provided Where a refund is owed, the IRS will send the refund as quickly as possible.



This means that the IRS is paying your BOSS the money by letting him keep the money every Friday that he is supposed to be paying the IRS instead of the IRS mailing them a check. (OFFSET). So business owners get to be paid very very fast.

Small Business Protection

Employers with fewer than 50 employees are eligible for an exemption from the requirements to provide leave to care for a child whose school is closed, or child care is unavailable in cases where the viability of the business is threatened.

This basically means that someone with 50 employees or less, gets to receive the same stuff as the business owners who has 500 employees or less if they have a child who has a closed school or there is no child care.

Easing Compliance Requirements subject to 30-day non-enforcement period for good faith compliance efforts.



To take immediate advantage of the paid leave credits, businesses can retain and access funds that they would otherwise pay to the IRS in payroll taxes. If those amounts are not sufficient to cover the cost of paid leave, employers can seek an expedited advance from the IRS by submitting a streamlined claim form that will be released next week.

This means that business owners can use the money from the weekly checks. This is what I said Earlier.

Enjoy!

James

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