On March 18, 2020, President Trump signed into law the Families First Coronavirus Response Act (H.R. 6201 aka FFCRA) to assist in providing immediate and fast relief to the employers and individuals affected by the COVID-19 Pandemic. As a business owner, it’s important that you know the facts behind this law, and not the misinformation that some sources are putting out there.
We have fielded several questions already and in this article we hope to provide you with information that you can use to make the best decisions you can for your company and your future. We’re going to discuss the new law and some of the benefits it has created for you and for your employees.
If you recall past tax and employer relief legislation (or even broader laws like the Patriot Act) then we’re sure you can appreciate that this legislation will have many intended and unintended consequences. As we move forward we and other attorneys will see and make some important decisions and recommendations on the effects of the law.
We’re going to break down an analysis of the law as it is currently being presented by our lawmakers and we’ll try to point out a couple of the areas we think it will have some of those unintended results.