April 15th has come and gone, yet we’re still here, talking about the benefits of the small business healthcare tax credits. Even though this might seem a little strange, it’s really not. The reason why is that the federal government allows you to revisit and refile tax returns for the previous three years. That could be huge for small businesses that haven’t yet taken advantage of this credit!
Just imagine. You’ve been eligible to receive this credit, but you only recently learned about it. Check out the How it Works page, and be sure to use the credit calculator at the bottom of the page. If you qualify for a decent credit, say it’s as much as a couple of thousand dollars, and you haven’t used the credit in the prior three years (years 2010, 2011 and 2012) you may be able to adjust your return can create a huge credit.
Yes there will be CPA fees associated with refiling, but if you’re eligible, the cost to refile may pale in comparison to the credit itself. You owe it to yourself, your company and your employees to take advantage of it!