Posted on January 31, 2011

Guidance Available on the New Health Care Tax Credit for Small Employers

Instructions were released to help small employers correctly figure and claim the credit for 2010. Eligible small businesses will first use Form 8941 to figure the credit and then include that amount as part of the general business credit on the 2010 income tax return.

Tax-exempt organizations will first use Form 8941 to figure out their refundable credit, and then claim the credit on Line 44f of Form 990-T.Though primarily filed by those organizations liable for the tax on unrelated business income, Form 990-T will also be used by any eligible tax-exempt organization to claim the credit, regardless of whether they are subject to this tax.

For more information about claiming the credit go to and search IR-2010-117 or view the Frequently Asked Questions at,,id=220839,00.html.