The Smaller the Employer, the Bigger the Credit

The Smaller the Employer,  the Bigger the Credit

The tax deadline is almost here! If you offered SHOP insurance in 2017, you may be eligible for the Small Business Health Care Tax Credit. Use the SHOP Tax Credit Estimator to determine if your business is eligible for the tax credit and how much it may be worth. An employer (other than a tax-exempt employer) claims the credit on its annual income tax return, with an attached Form 8941, Credit for Small Employer Health Insurance Premiums, showing the calculation of the credit. A tax-exempt employer claims the credit by filing the Form 990-T, Exempt Organization Business Income Tax Return, with an attached Form 8941 showing the calculation of the claimed credit. Filing Form 990-T with an attached Form 8941 is required for a tax-exempt eligible small employer to claim the credit, even if it is not otherwise required to file Form 990-T. Questions? The Internal Revenue Service has more information about the Small Business Health Care Tax Credit. Thank you, The SHOP Team Need SHOP help? Contact the SHOP Call Center at 1-800-706-7893 (TTY: 711) weekdays from 9 a.m. to 5 p.m. Eastern Time.