Flowchart helps employers understand new tax credits

The IRS recently issued Publication 5419, New Employer Tax Credits (PDF) to help employers understand that tax credits available to them due to the coronavirus pandemic. The one-page document breaks down the details of the Employer Retention Credit and the credits for paid sick and family leave in easy-to-follow charts. Using the document, employers can quickly determine whether they are eligible for the credits, the amount of the credits and which wages apply to the credits.