IRS Issues Frequently Asked Questions (FAQs) on Small Business Health Care Tax Credit


By Ron Kramer

On November 1, 2010, the Internal Revenue Service (IRS) issued a list of FAQs concerning the Small Business Health Care Tax Credit contained in the recently-enacted health care legislation (the Patient Protection and Affordable Care Act). The new health care reform law gives a tax credit to small employers that provide health care coverage to their employees. The credit is effective for tax years beginning in 2010.

The FAQs provide information as to eligibility and computation of the credit as it applies for 2010 through 2013. We refer you to our Insight titled Health Care Reform: 2010 Tax Benefits, dated April 5, 2010, that outlines the principal provisions of the Small Business Health Care Tax Credit. In addition to small employers, the health care credit also applies to smaller tax exempt organizations. To view the FAQs on the Internal Revenue Service website, click here.

If you have questions as to how the new Small Business Health Care Tax Credit might apply to your business or tax exempt organization for 2010, please contact Ron Kramer at rkramer@schneiderdowns.com or your Schneider Downs representative. 



Schneider Downs provides accountingtax, wealth management, technology and business advisory services through innovative thought leaders who deliver the expertise to meet the individual needs of each client. Our offices are located in Pittsburgh, PA and Columbus, OH. 

This advice is not intended or written to be used for, and it cannot be used for, the purpose of avoiding any federal tax penalties that may be imposed, or for promoting, marketing or recommending to another person, any tax-related matter.


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