Form 8941

Form 8941

A form that a small business files with the IRS to claim the health care tax credit. This credit is a direct, dollar-for-dollar reduction of the company's tax liability up to a certain percentage of the premium it pays for employees' health insurance.
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Form 8941 may be filed by eligible small employers to calculate a tax credit for health insurance premiums paid for their employees.
The credit web page includes links to an interactive estimator, Form 8941 and Instructions, and examples.
The remaining credit period begins with the first taxable year in or after 2014 in which the eligible employer claims the credit using Form 8941, "Credit for Small Employer Health Insurance Premiums," by attaching the form to its income tax return.
The credit is claimed using Form 8941. It is part of the general business credit, unused portions of which can be carried back one year and forward 20 years.
Beginning in 2014, there is a two-year limit, which begins with the first year the employer files Form 8941, Credit for Small Employer Health Insurance Premiums.
Go to www.IRS.gov to obtain form 8941, Credit for Small Employer Health Insurance Premiums.
The new guidance includes a one-page form (Form 8941--Credit for Small Employer Health Insurance Premiums), along with instructions to Form 8941, and a newly revised Form 990-T.
Beginning in 2014, a two-year limit begins with the first year (after 2013) the employer files Form 8941, Credit for Small Employer Health Insurance Premiums.
The ACA tax credit is computed at the entity level for corporations, partnerships, and limited liability companies on Form 8941, Credit for Small Employer Health Insurance Premiums.
The draft Form 8941 is posted on the IRS Web site and will be used by both small businesses and tax-exempt organizations.
Both small businesses and tax-exempt organizations will use new Form 8941 to calculate the small-business healthcare tax credit.