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  • W-2 Reporting Requirement Deferred

    The Internal Revenue Service  has announced that they will defer the PPACA requirement for employers to report the cost of coverage and employee W-2 forms untill 2012.  It will be optional for employers to report this in 2011.  The amounts reported will remain as not subject to taxation.

    The Treasury Department and the IRS have determined that this relief is necessary to provide employers the time they need to make changes to their payroll systems or procedures in preparation for compliance with the new reporting requirement. The IRS will be publishing guidance on the new requirement later this year.

    The draft IRS form can be accessed at: http://www.irs.gov/pub/irs-utl/draft_w-2.pdf

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