2011 "W2" REPORTING REQUIREMENT --> HEALTH COST OPTIONAL

IRS GUIDE IS THAT WHEN 2011 " W2" FORMS ARE ISSUED IN JAN 2011, IT IS NOT MANDATORY THAT EMPLOYERS DO THE FOLLOWING:

1.   REPORT COST OF HEALTH CARE IN WAGE & TAX STATEMENT - W2 FORM

2. THIS RELIEF WAS GRANTED TO GIVE TIME TO EMPLOYERS TO UPDATE THEIR SYSTEMS AND PROCEDURES NECESSARY TO COMPLY WITH THIS NEW REQUIREMENT.

IT IS VERY LIKELY THAT EMPLOYERS HEALTH CARE COST MAY BECOME A TAXABLE BENEFIT TO EMPLOYEES. STAY TUNED, AS LAME DUCK SESSION OF THE CONGRESS MEETS IN FEW WEEKS.

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