IRS Releases 2011 Form 8941 for Small Employers to Claim Health Care Tax Credit

The IRS recently released the updated version of Form 8941 and its accompanying instructions to be used by eligible small employers to calculate the health care tax credit. Generally, a small employer that offers health insurance coverage under a qualifying arrangement may qualify for a tax credit of up to 35 percent of the contributions it makes towards premium costs. The instructions to the Form 8941 include information about what constitutes a qualifying arrangement for purposes of the credit. A copy of the Form 8941 can be found here. A copy of the Instructions can be found here.