The North Dakota Employer’s Blog: Vaccine Tax Credits

by | May 7, 2021 | Employer Rights, Employment Law, The North Dakota Employer's Blog

The North Dakota Employer's Blog

Did you know…

The American Rescue Plan Act of 2021 (ARP) allows certain employers to claim tax credits that reimburse them for the cost to provide paid leave to employees to receive or recover from COVID-19 vaccinations.  Employers with fewer than 500 employees are able to claim these tax credits, and they are currently available from April 1, 2021 to September 30, 2021.  The amount of the tax credit is 100% of the absent employee’s pay, subject to a maximum of $511 per day and $5,110 in the aggregate.

Employers may claim these tax credits through their quarterly federal tax returns.  The IRS recently released a fact sheet to help employer navigate how to claim these tax credits:  https://www.irs.gov/newsroom/employer-tax-credits-for-employee-paid-leave-due-to-covid-19.

For more employment law updates, contact your Vogel Law Firm employment law team.

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