SBA Opens Restaurant Revitalization Fund, IRS Tax Credits for COVID-19 Vaccination Paid Leave
The NAC Government Relations Committee has shared two important updates:
Restaurant Revitalization Fund (RRF)
The U.S. Small Business Administration (SBA) has opened the website for the Restaurant Revitalization Fund (RRF). This is the grant program set up by the American Rescue Plan for various types of food establishments including, “food stands, food trucks, food carts, caterers, and snack and nonalcoholic beverage bars.” The site includes the who, how, and when to apply, plus other important information. Links are below:
For other Coronavirus Relief Options, CLICK HERE.
IRS Tax Credits for Small Business Employee COVID-19 Vaccination Paid Leave
The Internal Revenue Service (IRS) announced tax credits to assist small businesses with 500 or less employees provide them paid leave receiving COVID-19 vaccinations between 4.1.21 – 9.20.21. Specifically:
· Paid sick leave wages limited to $511 per day and $5,110 in the aggregate, at 100 percent of the employee’s regular rate of pay.
· Paid family leave wages is limited to $200 per day and $12,000 in the aggregate, at 2/3 of the employee’s regular rate of pay.
Category: Feature
