CHICAGO, IL (May 3, 2011) – Local Evangelical Covenant churches and regional conferences have until May 15 to apply for a special tax credit on health insurance premiums paid during calendar year 2010.
This new provision is part of the Health Care Tax Credit for Small Employers that was included in the Affordable Care Act enacted by Congress in March 2010. Covenant controller Elliott Johnson says the credit could be worth $2,500 or more for each covered individual meeting the criteria.
As a result of lobbying efforts by the Church Benefit Association of which the Covenant denomination is a member, local churches and conferences can seek a tax credit of up to 25 percent of health insurance premiums paid last year.
For more information, including links to two required forms, click here to see a previously published story. Interested churches and conference offices are encouraged to email Johnson, who can assist in the preparation of the required information.