April 6, 2020 - NFP CARES Act Webinar CARES Act Webinar - NFP - Final | Page 30

FFCRA
 IR-2020-57
• Today the U.S. Treasury Department, Internal Revenue Service (IRS),
and the U.S. Department of Labor (Labor) announced that small and
midsize employers can begin taking advantage of two new refundable
payroll tax credits, designed to immediately and fully reimburse them,
dollar-for-dollar, for the cost of providing Coronavirus-related leave to
their employees. This relief to employees and small and midsize
businesses is provided under the Families First Coronavirus Response
Act (Act), signed by President Trump on March 18, 2020.
• The Act is effective for dates beginning April 1, 2020 through
December 31, 2020.
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