Some of you may be familiar with The Small Business Healthcare Tax Credit and filed the form (Form 990-T) with the IRS last year (2011) for your church. Whether you did or didn’t file it last year for the tax year ending 12/31/10, there is the opportunity to file the form this year (2012) for the tax year ending 12/31/11. However, the deadline for filing is May 15, 2012.
Basically, this credit requires the spending of a little time and can result in funds being disbursed to your church. There are some resources available that will help explain what this is all about if you are unfamiliar with this federal credit. Please see the following:
· Go to the web-site: www.irs.gov and see “Instructions for Form 8941”, and “Form 990-T”.
· Go to the web-site: www.guidestoneinsurance.org and go to the section “Healthcare Reform”, then click on “2011 Small Business Tax Credit”, then “Step By Step Guide for the Tax Credit”.
Hopefully, this will help you and your church.