“This bill will provide significant relief to small businesses that cannot afford the employee costs associated with coronavirus. The bill provides a dollar for dollar reimbursement for coronavirus related sick leave costs. To protect businesses concerned about cash flow, the Treasury will use its regulatory authority to advance funds to employers in a number of ways. Employers will be able to use cash deposited with the IRS to pay sick leave wages. Additionally, for businesses that would not have sufficient taxes to draw from, Treasury will use its regulatory authority to make advances to small businesses to cover such costs.”
####
WASHINGTON – This week, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) hosted…
140,803 Taxpayers Filed Their Taxes Directly with the IRS for Free as users claimed more…
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today issued the following statement at the…
WASHINGTON — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is…
New Inflation Reduction Act Provision Broadens Access and Boosts Return on Clean Energy Tax CreditsWashington,…
As Prepared for DeliveryThank you all for coming together today for this important discussion. I am…