Financial Services Alert: Tax Reform Creates a New Income Tax Credit for Employers Providing Family and Medical Leave to Employees

Does your company voluntarily offer paid family and medical leave for your employees under the Family Medical Leave Act (FMLA) of 1993? If so, you could be eligible for an income tax credit.

The Tax Cuts and Jobs Act (P.L. 115-97) provides an employer income tax credit, in the newly added Internal Revenue Code Section 45S, for paid family and medical leave.

The credit is currently available for tax years 2018 and 2019 for eligible employers voluntarily providing paid family and medical leave to qualifying employees.

Please take time to become familiar with this new guidance. Contact your tax advisor or a member of the DHG Financial Services practice for more information.

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