The IRS recently posted two new, separate sets of FAQs to assist families and small and mid-sized employers in claiming credits under the American Rescue Plan Act (ARPA).
ARPA enhanced both the child and dependent care credit as well as the paid sick and family leave credit to assist families and small businesses with the fallout of the COVID-19 pandemic and recovery underway.
The two sets of FAQs provide information on eligibility, computing the credit amounts and how to claim the tax benefits. Learn more.