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Author: Jody Rodney/Thursday, December 7, 2017/Categories: News
The Internal Revenue Service (IRS) reminds employers to report Health Care Coverage Values on Form W-2. This is mandatory for certain employers effective with tax years beginning in 2012. IRS Notice 2012-9, Interim Guidance on Informational Reporting to Employees of the Cost of Their Group Health Insurance Coverage, provides detailed information regarding who is required to report this information, as well as how to calculate the reported amounts. ADP has established the necessary payroll accumulator and memo code for this feature. Should you determine that your organization is required to include this information on the 2017 Forms W-2, your Service Team is available to assist you with these reporting requirements.
Please click here to review the detailed IRS information.