Under the Affordable Care Act employers are required to report the cost of employer-provided health care coverage on the Form W-2. Notice 2010-69, issued last fall. The initial act required employers to report this for 2011, and issued on W-2s mailed in 2012. In today’s guidance, the IRS is providing relief for smaller employers (those filing fewer than 250 W-2 forms). The requirement will now be optional for them at least for 2012 (i.e., for 2012 Forms W-2 that generally would be furnished to employees in January 2013) until further guidance is issued.
We currently struggle with educating large payroll providers like ADP and Paychex to conform to laws that were enacted 10 years ago. As tax consultants and business managers, this helped us a lot with our smaller clients.
For further analysis see https://www.accountingtoday.com/news/IRS-Offers-Guidance-Relief-Health-Coverage-Reporting-Requirements-57843-1.html?ET=webcpa:e1367:73200a:&st=email
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Hey Bert,
Thanks for reading. We try to promote knowledge with a little entertaining twist. This one was a little less entertaining, because I couldn’t find anything humorous about the IRS at the time. Check out our line of videos on the site under The LA CPA. We will be issuing a new one each month.
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I sent your comment to our web people. Thanks for reading.
Send a screenshot to rnorris@ricknorriscpa.com and we will see what is happening.
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Which one? Calendar? Go to WordPress.
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WordPress has a number of basic widgets.
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