House passed Coronavirus assistance bill

Last Friday evening the House passed a Coronavirus assistance bill. IT HAS NOT BEEN passed by the Senate so not law yet, but if it doesn’t get changed in the Senate – one of the provisions is for all employers with 500 or fewer employers to provide two weeks paid sick leave at full rates of pay and up to 12 weeks family medical leave at 67% of the persons normal wage. Currently, the employer would be reimbursed for this at some point via tax credits. Again, the Senate has not passed so at this time, not law, but I would recommend watching this site for additional updates. I would also recommend getting your business house in order as I can see this one part of the potential law as being very cash-intensive on small businesses. Check out www.https://tedsmithcpa.com/register%202/ for more assistance.

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