Certain coverage and employers won’t have to report health costs on W-2s
With Jennifer McCormack, Esq. Lots of different kinds of coverage will not have to report their expenses next tax year (the 2012 tax year), and lots of employers won’t have to either. Are you one of them? Beginning calendar year 2012, employers must report on Forms W-2 (which employers will give employees in January 2013) the aggregate cost of health coverage received by an employee under the employer’s health plan. Notice 2012-9, issued Jan. 5 by the IRS, clarified prior guidance for employers regarding compliance with the new W-2 health coverage reporting requirement, as mandated under health reform.
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