When you are running a small business, whether it is a restaurant or a recreation park, sometimes holidays will be the prime day for your business. This means you can’t just give time off to your employees on federal holidays as it may affect your revenues. So the question is — which holidays should you give off to your employees?
Even though the Federal Government provides 10 paid holidays to their employees each year, there is no Federal law for the private employers that require them to provide paid or unpaid time off on nationally recognized holidays. So the federal holidays are not automatically time offs and they can be typically considered as regular workdays.
But to keep your employees satisfied and productive at work, it’s better to develop a paid time-off policy for your payroll process that should be based on the needs of your business and employees and by following the list of Federal, state, and local holidays.
List of Federal Holidays – 2020
List of Federal Holidays 2020
|January 1||Wednesday||New Year’s Day|
|January 20||Monday||Birthday of Martin Luther King, Jr.|
|February 17||Monday||Washington’s Birthday|
|May 25||Monday||Memorial Day|
|July 3||Friday||Independence Day|
|September 7||Monday||Labor Day|
|October 12||Monday||Columbus Day|
|November 11||Wednesday||Veterans Day|
|November 26||Thursday||Thanksgiving Day|
|December 25||Friday||Christmas Day|
The federal holidays falling on Saturdays will be observed on the preceding Friday for pay and leave purposes. Similarly, the federal holidays falling on Sundays will be observed on the following Mondays for pay and leave purposes.
Bank holidays are the same as federal holidays because they follow the holiday calendar issued by the U.S. Federal Reserve.
CheckMark, Inc. assumes no liability and makes no warranties on or for the information offered in this post, as it is intended for only informational purposes. Consult your advisor or legal counsel for more information on Federal Holidays and developing a paid time-off policy.