WASHINGTON – The U.S. Small Business Association is reminding small businesses about a provision of the Affordable Care Act that gives a tax credit to eligible small employers who provide health care to their employees.
Beginning in tax year 2014, tax credits that could affect small businesses and tax-exempt organizations are:
“Small employers may still be eligible to claim the tax credit for tax years 2010 through 2013,” according to the SBA. “Employers who were eligible to claim this credit for those prior years – bur did not do so – may consider amending prior years’ returns if they’re eligible to do so in order to claim the credit.”
For more information about the Affordable Care Act, popularly referred to as Obamacare, and filing your 2014 income tax return, visit IRS.gov/aca.