President Joe Biden’s campaign to inoculate Americans nationwide against coronavirus now is coming to small businesses with a no-cost offer.
The president hopes to persuade small and medium-sized businesses to give paid time off from jobs for workers to get vaccinated against COVID-19.
The government is not ordering the businesses to give the time off. However, using federal tax credits, it will give employers back their entire payments of sick leaves for workers to get vaccinated and, if necessary, to recover from any side effects of the shots. Costs of family leaves also are covered.
The offer is open between April 1 and Sept. 30, the Internal Revenue Service said in an announcement. Businesses or non-profit organizations with fewer than 500 workers are eligible. That also includes self-employed business owners, IRS noted.
The tax credits were authorized in The American Rescue Plan Act, signed into law by Biden in March.
See more details in this fact sheet at: https://www.irs.gov/newsroom/employer-tax-credits-for-employee-paid-leave-due-to-covid-19
Eric Buechler, owner of EricJohn Ltd and an enrolled agent recognized by the IRS, is ready to help small businesses with the details of claiming the COVID-related tax credits.