President Trump signed the Families First Coronavirus Response Act that requires employers with under 500 employees to provide mandatory sick leave to those impacted by COVID-19.
The legislation also expands the Family and Medical Leave Act (FMLA) to require such employers to provide time off for employees to care for a child impacted by a school closure. The Act establishes two refundable employer payroll tax credits to offset the cost of wages paid to cover these mandates.
- Learn more about the FMLA updates on the Department of Labor’s (DOL) website.
- Read NMHC’s summary of the legislation here
Separately, the Treasury Department and Internal Revenue Service (IRS) announced it would move to a July 15 deadline for filing Federal income tax returns and making Federal income tax payments. There is no limit as to the amount of payments that may be postponed. Notably, relief is available solely with respect to Federal income tax payments (including payments of tax on self-employment income) and Federal income tax returns due on April 15 with respect to a taxpayer’s 2019 taxable year, and Federal estimated income tax payments (including payments of tax on self-employment income) due on April 15 for a taxpayer’s 2020 taxable year. No extension is provided for the payment or deposit of any other type of Federal tax, or for the filing of any Federal information return.
- Read the IRS frequently asked questions and answers document on extending the deadline here.
For more information on NMHC’s COVID-19 relief advocacy work, please visit this webpage.
- NMHC Leads Coalition Opposing Eviction Moratorium Provision in Proposed ERAP Legislation
- Real Estate Coalition Letter Opposing Eviction Moratorium in H.R. 5196
- Representing the Nation’s Apartment Industry, Chairman and CEO of Waterton, David Schwartz, Testifies Before the House Committee on Financial Services
- Trade Group Coalition Letter to House Ways and Means Committee Opposing Proposed Tax Increases
- Family Business Estate Tax Coalition Letter Expressing Support for Stepped-Up Basis