HELP US HELP YOU
Technical Release 2011-28
On March 29, 2011, the Internal Revenue Service (IRS) released Notice 2011-28, which provides interim guidance to employers regarding reporting aggregate costs of applicable employer-sponsored group health plan coverage onW-2 forms. The reporting of cost to employees is for informational purposes only. Any
The majority of employers will be required to provide this reporting on W-2 forms, using Box 12 Code "DD," beginning with the calendar year 2012 (i.e., forms issued for calendar year 2012 in January 2013).
Notice 2011-28 also provides transitional relief for small employers beyond 2012. For small employers filing fewer than 250 W-2 forms in 2011, there will be no requirement to report the cost of health coverage to employees prior to January 2014.
Notice 2011-28 also provides transitional relief for small employers beyond 2012. For small employers filing fewer than 250 W-2 forms in 2011, there will be no requirement to report the cost of health coverage to employees prior to January 2014.
In addition, Notice 2011-28 contains an FAQ discussion which provides guidance concerning:
· The methods for reporting the cost of coverage on the W-2 form
· Which types of coverage require costs to be reported
· Calculation methods that may be used to determine the cost of coverage
VFBC will keep continue to keep our clients abreast of all PPACA guidance as it is released.