Wednesday, June 16, 2010

New From IRS.gov - Affordable Care Act Provides Expanded Tax Benefit to Health Professionals Working in Underserved Areas

From the IRS Newsletter:
WASHINGTON — As part of a larger Administration announcement on efforts to strengthen the health care workforce, the Internal Revenue Service today announced that under the Affordable Care Act health care professionals who received student loan relief under state programs that reward those who work in underserved communities may qualify for refunds on their 2009 federal income tax returns as well as an annual tax cut going forward.

“Doctors and nurses who choose to practice in underserved areas make a great contribution to their local communities,” Commissioner Doug Shulman said. “By expanding the tax exclusion for student loan forgiveness, the Affordable Care Act provides an even greater incentive to practice medicine in areas that need it most.”

To learn more, see the latest IRS newsletter.  You can also read more about other tax provisions in the act.

Image courtesy of  http://commons.wikimedia.org/wiki/File:Stethoscope-2.jpg.

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