{"id":451,"date":"2010-04-23T10:58:51","date_gmt":"2010-04-23T15:58:51","guid":{"rendered":"https:\/\/www.insureyourcompany.com\/?p=451"},"modified":"2024-05-16T12:04:33","modified_gmt":"2024-05-16T16:04:33","slug":"small-business-tax-credit-postcards-sent-out-to-businesses","status":"publish","type":"post","link":"https:\/\/insureyourcompany.com\/blog\/small-business-tax-credit-postcards-sent-out-to-businesses\/","title":{"rendered":"Small Business Tax Credit Postcards Sent Out to Businesses"},"content":{"rendered":"<p>Millions of small businesses will receive <a href=\"http:\/\/www.irs.gov\/pub\/irs-news\/health_care_postcard_notice.pdf\">postcards<\/a> from the IRS beginning the week of April 19 that alert them to the new Small Business Health Care Tax Credit and encourage them to check their eligibility. Even if you don&#8217;t receive a postcard, your business still may be eligible.<\/p>\n<p>Here\u2019s how to determine if you are eligible:<\/p>\n<p><strong>Eligibility Rules<\/strong><\/p>\n<ul>\n<li><strong>Providing <a href=\"https:\/\/insureyourcompany.com\/for-your-employees\/health-insurance\/\">health care coverage<\/a>.<\/strong> A qualifying employer must cover at least 50 percent of the cost of health care coverage for some of its workers based on the single rate.<\/li>\n<li><strong>Firm size.<\/strong> A qualifying employer must have less than the equivalent of 25 full-time workers (for example, an employer with fewer than 50 half-time workers may be eligible).<\/li>\n<li><strong>Average annual wage.<\/strong> A qualifying employer must pay average annual wages below $50,000.<\/li>\n<li><strong>Both taxable (for profit) and tax-exempt\u00a0firms qualify.<\/strong><\/li>\n<\/ul>\n<p><strong>Amount of Credit<\/strong><\/p>\n<ul>\n<li><strong>Maximum Amount.<\/strong> The credit is worth up to 35 percent of a small business&#8217; premium costs in 2010.\u00a0On Jan. 1, 2014, this rate increases to 50 percent (35 percent for tax-exempt employers).<\/li>\n<li><strong>Phase-out.<\/strong> The credit phases out gradually for firms with average wages between $25,000 and $50,000 and for firms with the equivalent of between 10 and 25 full-time workers.<\/li>\n<\/ul>\n<p><strong>Three\u00a0Simple Steps for Employers to Qualify<\/strong><\/p>\n<p>To determine if your small business or tax exempt organization qualifies for the Small Business Health\u00a0Care Tax Credit, follow the <a href=\"http:\/\/www.irs.gov\/pub\/irs-utl\/3_simple_steps.pdf\">three\u00a0simple steps on the IRS&#8217; fact sheet<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Millions of small businesses will receive postcards from the IRS beginning the week of April 19 that alert them to the new Small Business Health Care Tax Credit and encourage them to check their eligibility. Even if you don&#8217;t receive a postcard, your business still may be eligible. Here\u2019s how to determine if you are [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[6,1],"tags":[35,36,37],"class_list":["post-451","post","type-post","status-publish","format-standard","hentry","category-health-insurance","category-uncategorized","tag-health-reform","tag-healthcare-tax-credit","tag-small-business-tax-credit"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO Pro 5.0.0.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"Millions of small businesses will receive postcards from the IRS beginning the week of April 19 that alert them to the new Small Business Health Care Tax Credit and encourage them to check their eligibility. 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Here\u2019s how to determine if you are\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"Dan Levenson\"\/>\n\t<meta name=\"google-site-verification\" content=\"_CKt6zlvqansSlq96-l3O8rYxq74_BYyyy-3XEPGtBs\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/insureyourcompany.com\/blog\/small-business-tax-credit-postcards-sent-out-to-businesses\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO Pro (AIOSEO) 5.0.0.1\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"InsureYourCompany - Protection for your business, peace of mind for you.\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"Small Business Tax Credit Postcards Sent Out to Businesses - InsureYourCompany\" \/>\n\t\t<meta property=\"og:description\" content=\"Millions of small businesses will receive postcards from the IRS beginning the week of April 19 that alert them to the new Small Business Health Care Tax Credit and encourage them to check their eligibility. 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