|Small Employer Tax Credit Information|
The Patient Protection and Affordable Care Act (PPACA) was enacted on March 23, 2010. PPACA includes a tax credit for small businesses that provide health care coverage to their employees. The tax credit is effective for tax years beginning in 2010. The credit is designed to encourage small employers to offer health insurance coverage for the first time or maintain coverage they already have.
On December 2, 2010, the Internal Revenue Service (IRS) released a final Form 8941 that small businesses and tax-exempt organizations will use to calculate the small business health care tax credit when they file income tax returns. The IRS also added guidance on additional issues relating to the small employer tax credit in Notice 2010-82 to enhance the previously provided Notice 2010-44.
For more information on the Small Employer Tax Credit, please review Small Businesses Eligible for Tax Credit, Q & A or IRS Releases Information on Small Employer Tax Credit or contact ChamberChoice at 1-800-377-3539.
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(Call 570-455-1509 for membership fee, based on company size.)