The IRS stresses that the amounts reportable are not taxable and that the reporting requirement is intended to be informational only and to provide employees with greater transparency into overall health care costs.
IRS Issues W-2 Form Draft
WASHINGTON — The Internal Revenue Service has issued a draft form W-2 for 2011, for employers to report wages and employee tax withholding and which can be used to report the cost of co
verage under employer-sponsored group health plans, but also made reporting the cost of those plans optional in 2011.
The decision that the new requirement for employers to report the cost of coverage under an employer-sponsored group health plan would be optional next year was made to give employers time to make changes to their payroll systems or procedures. New guidelines will be published this year.
