The Matzav Shmoooze: We Cannot Allow Employees to Be Left Hanging During This Crisis

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Dear Editor@Matzav.com,

The financial effects of the Coronavirus have been detrimental to many in our community. Earlier today my office sent out an email detailing the stimulus package passed by Congress this week. Although not all details are clear one aspect of the bill is a paid sick leave. The way this will work is as follows (this is purely based on my current understanding as all the details have not been hammered out):

The company must continue to pay the employee for 2 weeks at their full salary.

If necessary they will continue to pay the employee for up to 10 more weeks at 2/3 of their salary.

Within the next 3 to 6 months the company will be reimbursed in full in the form of a payroll tax credit.

Those who are ill, quarantined, or caring for an ill family member are eligible for 2 weeks of paid leave. Those who need to care for their children due to school closures will be eligible for up to twelve weeks.

This will naturally help so many in our community who are in desperate need of these necessary funds. It will also help the companies to retain a solid workforce without losing so much money. Any employee of a company with fewer than 500 employees is eligible.

Unfortunately, however, it has come to my attention that many companies intend to take advantage of a loophole whereby companies with fewer than 50 employees could request an exemption if they are able to show that it will cause a financial hardship. Sadly, many companies currently don’t have the funds to pay their employees even if they know they will be reimbursed in just a few short months. Many companies have asked me if they should just fire their workers so they could at least collect unemployment.

We, as a community, can not stand by and allow so many people to suffer. I am begging all those with the financial wherewithal to arrange a short-term Gemach loan to lend the funds to companies in need so they could offer the paid sick leave to their employees. The Gemach could be arranged so that the loans get paid back as the companies get their payroll tax credits in a few months. This will enable so many struggling families to have some semblance of normalcy over the next few weeks while equally helping businesses to remain viable by retaining their employees.

Please note that all of this information is fast emerging and the details have not been finalized. I apologize in advance if some of my information is not 100% accurate. Please do not hesitate to contact me if I could be of assistance in any way. Hashem should bless all those who help this worthy cause with endless Bracha.

Thank you.

Isaac Tawil

Tawil Tax & Accounting Solutions

7 Sherwood Drive

Lakewood, NJ 08701

732-987-9975 X4

itawil@tawiltax.com

{Matzav.com}

3 COMMENTS

  1. Why borrow if they can get unemployment? When the business is back up they’ll rehire them.
    You’re basically asking yidden to pay paychecks instead of the government.

  2. How are Yidden in need (and have no connections) supposed to get kimcha dipischa/maos chitim now? Every Shul is closed. There are no local appeals. The big organizations with heavy advertising will bring in money, but that money is going to Israel. Very nice, BUT WHO IS GOING TO HELP US LOCALS RIGHT HERE IN BROOKLYN???! What ever happened to ananei ircha kodem? Who can we reach out to?

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