In an effort to help small businesses afford the rising cost of health insurance, the IRS has created a new 35% tax credit on the health insurance they provide to their workers as part of the new Patient Protection and Affordable Care Act (PPACA). 

  

Those who are eligible, according to the new credit requirements, must provide a minimum coverage of 50 percent towards the cost of an individual’s plan. The business must also have less than 25 full-time employees and report an average annual wage of less than $50,000.  

  

For more information on how to take advantage of this government subsidized tax relief as well as the appropriate forms for which to fill out, click here.