The IRS has issued a reprieve from the required reporting of the value of employer provided health benefits on the workers 2011 W-2. This is a good thing. It’s nice to know that regulators understand the realities of compliance even if Member of Congress don’t understand what they vote on. Here is an excerpt from the Notice and a link to the full text.
This notice provides interim relief to employers with respect to reporting the cost of coverage under an employer-sponsored group health plan on Form W-2, Wage and Tax Statement, pursuant to § 6051(a)(14) of the Code. Specifically, this notice provides that reporting the cost of such coverage will not be mandatory for Forms W-2 issued for 2011. The Treasury Department and the IRS have determined that this relief is appropriate to provide employers with additional time to make any necessary changes to their payroll systems or procedures in preparation for compliance with the reporting requirement.
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