IRS Releases Draft Form For Claiming the Small Business Health Insurance Tax Credit

The Internal Revenue Service released draft Form 8941 “Credit for Small Employer Health Insurance Premiums” that enables eligible small employers to calculate and claim their small business health insurance tax credit for 2010. The final version of the Form (with instructions) will be released later this year. This Form provides important information on how employers can calculate and claim the Credit; please see the attached memo for further information. You may also reference our May 25, 2010 summary for additional information about the Credit.