by Mark Jones
According to the IRS, the recent sequestration which has gone into effect is imposing automatic cuts to the Small Business Health Care Tax Credit claimed by many small ministries. As a result, the portion of your claim will be reduced by 8.7%. The sequestration reduction rate will be applied until the end of the fiscal year (Sept. 30, 2013) or intervening Congressional action, at which time the sequestration rate is subject to change. Check the IRS’s notice for more information.