New paid leave tax credit for COVID vaccine

A new tax credit will reimburse small businesses and non-profits that provide paid sick leave for employees to receive the COVID vaccine.

The credit, available to companies with fewer than 500 employees, will offset up to $511 a day in paid sick leave costs between April 1 and Sept. 30.

An IRS Fact Sheet explains how companies can claim the credit. Contact a Morton & Gettys business law attorney at 803.366.3388 if you would like to learn more about how the credit can help your business.