Business Insurance Magazine Reports Breaking News
WASHINGTON—The Internal Revenue Service said Tuesday that it will give smaller employers even more time to comply with a health care reform law requirement that employers report the cost of coverage on employees' W-2 wage and income statements.
In addition, the IRS also clarified that the reporting requirement does not apply to retirees receiving health care coverage.
Under the reform law, employers were required to provide health care cost information on 2011 W-2 statements that are distributed to employees in 2012.
But last year, the IRS waived that requirement for 2011 and said the health care cost reporting requirement would apply to 2012 W-2s, which are issued in 2013.
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