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IRS Issues W-2 Health Coverage Reporting Guidance, Including Information on How and What to Report
April 4, 2011
Health care reform established a new requirement that employers report the aggregate cost of employer-sponsored health coverage on Form W-2. Companies of all sizes were struggling with this new payroll obligation that was to go into effect for the 2011 tax year. To allow employers more time to update their payroll process, the IRS issued Notice 2010-69 on November 1, 2010, making the requirement optional for all employers in 2011.
On March 29, 2011, the IRS issued a new notice providing interim guidance on informational W-2 reporting to employees of the cost of their employer-sponsored group health plan coverage. The IRS has also posted FAQs on the IRS.gov website.
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