Friday, December 3, 2010

IRS issues final guidance on small employer tax credit

On Thursday, the IRS released final guidance for small employers eligible to claim the new small business tax credit for the 2010 tax year. The release includes a one-page form and instructions small employers will use to claim the credit for 2010.

The following new documents are posted on IRS.gov:
• New Form 8941, Credit for Small Employer Health Insurance Premiums
Instructions to Form 8941
Newly revised Form 990-T
Notice 2010-82

The instructions and Notice 2010-82 are designed to help small employers correctly figure and claim the credit.

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