After much debate over the reporting requirements outlined under the Health Reform Act, the IRS has announced that employers won’t have to report the aggregate cost of employer-sponsored group health plan coverage on Forms W-2 issued for 2011. Reporting for 2011 will be optional, and employers taking advantage of the reprieve will not be treated as having failed to meet the wage and tax statement reporting requirements or be subject to any penalties. IRS anticipates issuing guidance on this reporting requirement before the end of this year. We expect considerable guidance on tax reporting under the Health Reform Act in the coming year.
Cordasco and Company is proud to be a part of the following Associations: