New tax credit for paid family and medical leave

A new tax credit intended to help businesses reduce their taxes while an employee is on paid leave from his or her job duties due to specified reasons was enacted as part of the Tax Cuts and Jobs Act (TCJA), P.L. 115-97. Sec. 45S provides a general business credit (under Sec. 38) for employers that pay qualifying employees at least 50% of their salary while on family and medical leave for up to 12 weeks in a year.

Read more here: https://www.journalofaccountancy.com/issues/2018/dec/tax-credit-paid-family-medical-leave.html?utm_source=mnl:cpald&utm_medium=email&utm_campaign=04Dec2018