Coronavirus Employer Tax Credits

The IRS recently issued Publication 5419, New Employer Tax Credits to help employers understand the tax credits available to them due to the coronavirus pandemic. Publication 5419 is an easy-to-follow flowchart that breaks down the details of the Employer Retention Credit and the credits for paid sick and family leave. Using the chart, employers can quickly determine whether they are eligible for the credits, the amount of the credits and which wages apply to the credits.