Employers May Claim Tax Credit For Providing COVID-19 Vaccination Paid Leave, With Qualifications
In an attempt to boost the nation’s COVID-19 vaccination rate, President Joe Biden announced yesterday that small- and medium-sized employers offering vaccine-related paid leave will be eligible for a significant tax credit. The tax credit will fully offset the cost of providing paid time off to employees not only to get inoculated but also for any time needed to recover from vaccination side
effects. As explained below, however, obtaining this tax credit is not entirely new, nor is it free of related requirements.