IRS Posts Updated Draft Form and Instructions for Form 8881

The Internal Revenue Service has released an updated Form 8881, Credits for Small Employer Pension Plan Startup Costs, Contributions, Auto-Enrollment, and Military Spouse Participation, and an updated draft Instructions for Form 8881, Credits for Small Employer Pension Plan Startup Costs, Contributions, Auto-Enrollment, and Military Spouse Participation. Qualifying small employers that establish a retirement plan can file this form with their business tax return and claim a tax credit for start-up expenses, additional credits for employer contributions, for implementing automatic enrollment, and for military spouse participation.