IRS Issues Instructive Chart for W-2 Reporting Under Health Reform

more+
less-


 

Under health care reform, employers must report the “aggregate cost” of “applicable employer-sponsored health coverage” on an employee’s Form W-2. The value must first be reported on the Form W-2 issued in January 2013 for the 2012 tax year. In order to comply, employers must:

  • determine the applicable employer-sponsored coverage that is provided to each employee,
  • calculate the aggregate cost of such coverage for each employee, and
  • report that cost on each employee’s Form W-2.

The IRS has recently issued Notice 2012-9, which contains a chart that will help employers determine what to include when calculating the aggregate cost to report. This chart may be used until further guidance is issued.

Click here to view the IRS Issues Instructive Chart for W-2 Reporting Under Health Reform

For help calculating the amount for self-insured plans or other issues, please contact any member of our Employee Benefits team.

Written by:

Published In:

IRS
W-2
Tax

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Cox Smith | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×