Federal Tax Posts
In the U.S. House of Representatives, a bill was recently introduced that would extend and enhance the Paid Family and Medical Leave Credit (under IRC Section 45S). The bill proposes, among other things, to expand eligibility by reducing the minimum employment period for qualifying employees from one year to six months. The bill has broad bipartisan support and aligns with a Senate bill introduced earlier this year. However, passage is uncertain. The current credit is scheduled to expire at the end of next year. For additional information from the IRS on the credit in its current form: https://bit.ly/3y0ncrS
