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Last week, the IRS announced that it has postponed mandatory employer health care reporting on W-2 forms for 2011. It has also released two documents regarding the postponement: a notice explaining the reasoning behind the postponement (or, as the IRS refers to it, “interim relief") and a sample draft of the 2011 W-2 form. These documents are available for download on the Regulatory section of this Blog.
Please note that while the W-2 draft does include a box for the cost of sponsored health coverage, employers are not required to provide this information in 2011. Also, the IRS states on the back of the W-2 that the reported amount is for information only and is not taxable.
MedBen clients with questions regarding the postponment can contact Vice President of Compliance Caroline Fraker at (800) 851-0907.