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  • IRS Releases Small Employer Tax Credit Guidance

    The Internal Revenue Service has released final guidance for small employers eligible to claim the new small business health care tax credit for the 2010 tax year.   Under the Patient Protection and Affordable Care Act,  employers with less than 25 employees who earn a maximum of $50,000 per year may qualify for a tax credit for the employer’s portion of health care premiums.  The new Form 8941, “Credit for Small Employer Health Insurance Premiums,” and newly revised Form 990-T are now available on IRS.gov. The IRS has also posted on its website the instructions to form 8941 and Notice 2010-82, both of which are designed to help small employers correctly figure and claim the credit.

    More information about the credit, including a step-by-step guide to claiming the credit and answers to frequently asked questions, is available on the affordable Care Act page at IRS.gov.

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