As expected, the IRS recently issued additional guidance concerning the new paid leave tax credit codified as Code Section 45S. (You can read Part 1 of this series here.) The guidance, set forth in IRS Notice 2018-17, is presented in the form of 34 questions and answers. The questions and answers provide guidance to help determine which employees are “qualified” for purposes of the credit, how a year of service is determined, what constitutes wages, how the credit is calculated, and numerous other details. The questions and answers are highly detailed and this post does not provide a complete review of them.