FFCRA tax credits, or Families First Coronavirus Response Act tax credits, are financial incentives provided by the U.S. government to support businesses and individuals during the COVID-19 pandemic. These credits were introduced as part of the FFCRA in 2020 and aimed to help employers cover the cost of providing paid sick leave and expanded family and medical leave to their employees affected by the pandemic. Eligible employers can receive a dollar-for-dollar tax credit for wages paid to employees under these programs, providing crucial relief for businesses facing pandemic-related challenges. FFCRA tax credits have played a significant role in supporting both employers and workers during these unprecedented times.
Updated 2023-10-03 13:44:11 +02:00