HR Compliance Tracker

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Big changes are happening in the realm of workplace compliance issues and labor laws in the United States. Noncompliance with government regulations can have serious consequences—and can cost your business big time. Keep up with what's happening between the government and the workplace with the HR Compliance Tracker: your go-to place to stay updated on some major workforce compliance issues.

 

Treasury announces new employer tax credit for paid family and medical leave

Employers who provide paid family and medical leave to their employees in the 2018 and 2019 tax years may qualify for a new business credit. “By enhancing the benefits of this tax credit, we help empower working parents to pursue their careers while balancing their demands at home," said Treasury Secretary Steven Mnuchin.

If you’re setting up or updating a leave policy, a retroactive credit may also be available to employers. Generally, employees with paid family and medical leave who earned $72,000 or less in the previous year qualify for the credit.

Check out this guidance to learn how to calculate the credit and the application of special rules and limitations.

Topics: Employee Benefits, Labor Laws