Is Your Church Eligible For The Small Employer Health Insurance Credit?
The Small Employer Health Insurance Premium Credit is a refundable credit of up to 25% of premiums paid and is available to tax-exempt small (fewer than 25 full-time-equivalent employees) employers who paid average annual wages of less than $50,000 per employee and remitted Federal Income Tax withholdings or Medicare taxes. This credit is available for tax-exempt employers that do not file any tax return other than a Form 941. Rules are more restrictive for 2014, but there’s still time to claim your refund for 2013. Consult with your local CPA to determine if your church may be eligible to receive this credit or visithttp://www.irs.gov/uac/Small-Business-Health-Care-Tax-Credit-Questions-and-Answers:-Calculating-the-Credit