Wednesday, October 13, 2010

ObamaCare© and Your W-2: In the news

This is how the IRS characterizes the health care/W-2 kerfluffle:

"The Internal Revenue Service (IRS), an arm of the U.S. Treasury Department, has decided to include health expense codes that employers can use, but do not have to use, in the draft version of the 2011 W-2 wage tax withholding form." [emphasis added]

Gee, thanks fellas.

I find that ironic because of this:

"The IRS on Tuesday announced it has delayed the filing requirement for companies to report the cost of supplying healthcare coverage to their employees."

Regular readers may recall our recent post on this subject, which pointed out that the folks at NFIB "believe the provision really starts earlier. If someone leaves his job in 2011, the employer must provide the W-2 – with the added info – within a few weeks of the employee’s departure." So does this new announcement change that calculus?

One problem, of course, is that it doesn't seem to address the issue of when the actual reporting must begin. I've asked our friends at NFIB for their thoughts, and will let our readers know what we find out from them.

["Hill" Hat Tip: FoIB Patrick P]
blog comments powered by Disqus