Well, the “new normal” is still a moving target. What we thought was a sprint and then a marathon is turning out to be an ultramarathon. Now is the time to look beyond the “one step in front of the other” strategy of the past couple of weeks, and to start looking at what it will take to cross the finish line:
The law provides employers with a refundable tax credit equal to 100 percent of qualified sick and family leave wages paid. Employers can claim the credit quarterly. And the CARES Act provides for advanced refunding of the payroll tax credits enacted in the Families First law. The credit for required paid sick leave and the credit for required paid family leave can be refunded in advance using forms and instructions the IRS will provide. ABA’s Advocacy team will provide updates as they become available.
For specific questions about how these changes may impact your store, contact your payroll or human resources company, your state’s Department of Labor, or reach out to ABA’s Advocacy team at firstname.lastname@example.org.
Most importantly, we’re all running as fast as we can right now but we need to stop for a moment and consider the other side of the finish line. We will get there. What we do now will ensure we’re ready when we cross, and the new normal finally begins.
ABA is here for you. Please reach out if there is anything we can help with. We are an incredibly creative, resilient, supportive industry. We’ll get through this, together.