Employer Credit for Paid Family and Medical Leave Services
McKenzie Chase Management (MCM) offers a service to assist its Clients with managing and administering the Employer Credit for Paid Family and Medical Leave (“the FML Credit”). By administering the FML Credit for its Clients, MCM is able to substantially reduce the amount of time its Client’s employees would otherwise need to spend managing the FML Credit. Furthermore, this process aims to identify and capture potential tax credits associated with the FML Credit in order to lower the Client’s year-end tax liability and help the Client save money.
MCM’s FML Credit Service specifically entails:
- The identification of all employees who take personal leave under the IRS Section 45S Employer Paid Family and Medical Leave Tax Credit, including completion and storage of an affidavit by the employee attesting that the leave is covered under IRS guidelines
- The documentation of company compliance with regulations governing the credit, including provision of written policy requirements, maximum wage, minimum length of employment, treatment of part-time workers and wage requirements
- The generation and distribution of Annual Reporting summarizing credits for the company including qualified wages attributed to each qualifying employee, IRS claim form completion, back-up package preparation
- Audit support at no additional cost other than any out-of-town travel expenses (including airfare, local transportation, hotel accommodations and meals as authorized by the client). Such support will be provided even if the audit takes place on a date after the credit has expired
To capture the full potential of the FML Credit, MCM asks that the Client:
- Provide information and assistance, where necessary, to identify credit opportunities
- Provide payroll and employment information for calculating the FML credits
Terms of Service:
The FML Credit Service covers all qualifying wages and credits for the current term of the credit covering all qualifying wages from January 1, 2018 to December 31, 2019. Should the Credit be extended beyond December 31, 2019, the Agreement will be automatically renewed from year to year unless either party provides a termination notice in writing at least 60 days prior to the current expiration date. During the Term, MCM shall have the exclusive right to provide the FML Credit Service.