Three small business health care tax credit deadlines approach

The Internal Revenue Service and U.S. Department of Health and Human Services encourage small business owners to apply for their small business health care tax credit, The Salt Lake Tribune reports.

Employers whose workers make $50,000 or less and whose company employs 25 or fewer people are eligible for the tax credit.

Status as a general business is established through form 3800 and companies must aggregate their small business health care on form 8941 to be eligible for the credit. The deadline for this is September 15.

Sole traders and their shareholders filing Form 1040 who require an extension have until October 17 to submit returns. This document would be accompanied by Form 8941 to determine the small business health care credit.

November 15 marks the final deadline in which tax exempt companies can submit Form 8941 and request credit on Form 990-T.

"As the filing deadlines approach, we want to make sure small-business owners don’t leave any money on the table," Doug Shulman, IRS Commissioner, said in a statement.