By Shelly Toft, CPA
This just in – IRS has provided interim relief to employers with respect to reporting the cost of coverage under an employer-sponsored group health plan on Form W-2. The reporting of this cost will not be mandatory for Forms W-2 issued for 2011. They are providing employers additional time to make necessary changes to their payroll systems or procedures for compliance with the reporting requirement. This requirement was originally in the Patient Protection and Affordable Care Act of 2010 enacted March 23, 2010.
To read additional information, click here: IRS notice 2010-69 – W-2 reporting of health coverage not required for 2011
Please contact your Tax Professional if you have any questions.