White House Campaigns To Educate Small Businesses About Health Care Tax Credit
Written by Jenna Weiner
The White House has launched a major effort encouraging small business owners to take advantage of the Health Care Tax Credit.
There is good news for small business owners who may still be unclear on how the recently signed Health Care Tax Credit will affect them.
The White House has started a nationwide educational campaign for tax preparers and small businesses, with the goal of making sure they are aware of the credit and how they can claim it.
A section of the administration's website, WhiteHouse.gov, has been devoted to the Tax Credit, and a new section on small business tax tips is now featured on the website of the IRS.
In the weeks ahead, postcards will be sent out to millions of small businesses which may be eligible for the credit. The postcards will ask these businesses to examine the criteria for the credit and take advantage of it if they qualify. The IRS will also send out notifications, using its mailing list to notify more than 175,000 tax professionals.
Finally, the IRS will focus on the small business credit during more than 1,000 tax workshops and small business forums around the country.
The small employer tax credit will cover up to 35 percent of health insurance costs for employees. A recent report from the Congressional Budget Office estimated that it could save $40 billion over the next nine years.
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