Congress has officially passed the Coronavirus Aid, Relief, and Economic Security Act, otherwise known as the CARES Act…
LUTZ BUSINESS INSIGHTS
FAMILES FIRST CORONAVIRUS RESPONSE ACT
Due to the coronavirus (COVID-19) outbreak, on March 18th, 2020, President Trump passed the Families First Coronavirus Response Act, H.R. 6201 (Act). This Act:
- Provides paid sick leave and free COVID-19 testing.
- Expands food assistance and unemployment benefits.
- Requires employers to provide additional protections for healthcare workers.
In addition, the Act mandates that all Government entities and employers with less than 500 workers:
- Provide 80 hours of paid sick leave to all covered employees.
- Provide up to 10 weeks of paid family leave for employees (who have worked for the company for at least one month) affected by COVID-19.
Concerning taxes, this act also included a series of tax credits to employers and self-employed individuals to help cover lost income due to the COVID-19 outbreak. For more information, please visit https://www.irs.gov/coronavirus.
NEBRASKA UNEMPLOYMENT UPDATES
Governor Ricketts issued an executive order for an emergency unemployment insurance benefit relief related to the coronavirus (COVID-19).
High level overview:
- Changes will start March 22nd.
- The state of Nebraska will suspend the one-week waiting period required to receive unemployment benefits.
- The state of Nebraska will waive the requirement that the claimant is actively looking for work.
- The state of Nebraska will not “charge” the employer’s unemployment account for the unemployment benefits paid.
- Nebraska Workforce Development + frequently asked questions: https://www.dol.nebraska.gov/UIBenefits/Resources/FAQ
- Nebraska Workforce Development + Set up an employee user account: https://neworks.nebraska.gov/vosnet/loginintro.aspx (Go to Option 3 and create a User ID)
- Short-Time Compensation – https://dol.nebraska.gov/stc
You can think of the recovery rebate as an advance payment of a 2020 tax credit you would typically receive. U.S. residents will receive…
The CARES Act introduced several retroactive business tax changes. A highlight of the modifications include the following…
SIGN UP FOR OUR NEWSLETTERS!
We tap into the vast knowledge and experience within our organization to provide you with monthly content on topics and ideas that drive and challenge your company every day.
13616 California Street, Suite 300
Omaha, NE 68154
747 N Burlington Avenue, Suite 401
Hastings, NE 68901