Health care reform passed in March. On requirement was that employers were to start reporting the cost of employee group coverage on employee W-2's for tax years after January 1, 2011.
This week, the IRS and Department of Treasury announced, in Notice 2010-69, that the reporting requirement will be delayed one year until 2012 (reporting in 2013).
The IRS also posted draft copy of the W-2 for 2011. Employers adapting the new regulations can report health care group plan costs for 2011 by reporting the cost in Box 12 of the W-2 with the symbol DD. As always, check with your tax professional.
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That's a good move by IRS. Penalties were not going to kick in for a while anyway.. Meanwhile, the look-see on W-2 of the future is helpful also.
