Few Small Businesses Claim Health Care Tax Credit

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untitledAccounting today has an interesting article here detailing a report by the Treasury inspector general for tax administration, which shows that the number of small businesses claiming tax credits for health care costs is much lower than anticipated. 

Taxpayers have claimed about $280 million in Small Business Health Care Tax Credits so far this year, compared with the $2 billion projected by the government. The Internal Revenue Service has tried to inform qualified taxpayers about the credit, and will conduct focus groups to improve outreach.

Want to learn more about the credit?  The IRS has set up an information page here.  Or, give us a call.

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