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Small Business Health Care Tax Credit: Your Church May Apply!

By May 5, 2011No Comments

Your church may be eligible to receive a small business health care tax credit as part of the recently enacted Patient Protection and Affordable Care Act. This credit is designed to help small businesses, including churches, provide employee health coverage. This is done by reimbursing qualified nonprofit organizations up to 25 percent of the health care premiums that churches pay for employees, even though the churches pay no income tax. The refund is in effect for 2010–2013 and may also allow the church to receive a refund of up to 35 percent for any two years of its choice beginning in 2014. Click here for more information on qualifications and restrictions.

If your church has an accountant or tax specialist please contact him or her for more information and to assess if your church qualifies for this tax credit. If your church does not have an accountant or tax specialist it is recommended to seek that professional assistance.

 

Additionally, the IRS has made some resources available on the Internet.

 

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