HOUSE BILL 3590

[Booger]

Good morning, everybody. Had a conversation with a friend this past weekend. He asked me if employers had to

start including the cost of employer-sponsored health coverage as income on employees W-2's beginning in 2011.

I told him that I believe that this is incorrect.

Any input?

Thanks,

Booger

[MontanaEA]

Good morning, everybody. Had a conversation with a friend this past weekend. He asked me if employers had to

start including the cost of employer-sponsored health coverage as income on employees W-2's beginning in 2011.

I told him that I believe that this is correct.

Any input?

Thanks,

Booger

http://www.factcheck.org/2010/05/health-care-law-and-w-2-forms/

[taxxcpa]

http://www.factcheck.org/2010/05/health-care-law-and-w-2-forms/

As I understand it, it would be reported on the W-2, but not taxzble.

[Maribeth]

As I understand it, it would be reported on the W-2, but not taxzble.

Starting with taxable years beginning after December 31, 2010, an employer is required to disclose on each employee's annual Form w-2, the VALUE of the employee's health insurance coverage sponsored by the employer. This amount is the total value of ALL health related insurance plans under which the employee is covered. It is not the premiums paid; it is the value; probably determined using the COBRA valuation.

The amount is not taxable; it is only a reporting requirement at this time.

Maribeth -- just finished a 3 hour seminar on this topic today.

[TAXBILLY]

http://www.factcheck.org/2010/05/health-care-law-and-w-2-forms/

taxbilly