The IRS has expanded its paid sick and family leave tax credits under the American Rescue Plan Act to encourage COVID-19 vaccinations in its newly updated FAQs.
The updates clarify that eligible employers can claim the credits for providing leave to employees to accompany a family or household member or certain other individuals to obtain immunization or to care for a family or household member recovering from the vaccine shots.
This new reason for paid sick or family leave also applies for the comparable credits for self-employed individuals.
The IRS also defines how to file for and compute the applicable credit amounts, and how to receive advance payments for and refunds of the credits. Read more.