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IRS Issues W-2 Form Draft

Tuesday, Oct 12 2010
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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 coIRS logoverage 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.

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.

Bob Scott
Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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