IRS Releases Final Rule for Small Business Tax Credits Under ACA
The Internal Revenue Service has issued a final rule on an Affordable Care Act provision that provides tax credits to small businesses to help them provide health coverage to their employees. In the final rule, IRS noted that small businesses with up to 25 full-time equivalent workers -- with average annual wages of up to $50,800 -- must contribute at least 50% of the premiums that each employee pays in order to claim a tax credit of half of the amount paid.
- "IRS Issues Rule on Small-Business Health Insurance Tax Credit" (Dickson, Modern Healthcare, 6/27).