Booger Posted June 21, 2010 Report Share Posted June 21, 2010 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 Quote Link to comment Share on other sites More sharing options...
MontanaEA Posted June 21, 2010 Report Share Posted June 21, 2010 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/ Quote Link to comment Share on other sites More sharing options...
taxxcpa Posted June 23, 2010 Report Share Posted June 23, 2010 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. Quote Link to comment Share on other sites More sharing options...
Maribeth Posted June 23, 2010 Report Share Posted June 23, 2010 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. Quote Link to comment Share on other sites More sharing options...
TAXBILLY Posted June 23, 2010 Report Share Posted June 23, 2010 http://www.factcheck.org/2010/05/health-care-law-and-w-2-forms/ taxbilly Quote Link to comment Share on other sites More sharing options...
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