Payroll Articles
The new Patient Protection and Affordable Care Act (PPACA) requirement for employers to report health care contributions on an employee’s W-2 will be optional in 2011, according to the IRS.
The IRS has released a draft form for the requirement along with its announcement that the requirement will be optional in 2011. Notice 2010-69 provides: “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.”
Of course, AdvanStaff HR assumes the W-2 reporting requirement for all employees managed by AdvanStaff HR. This article is shared for informative purposes only.
