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COBRA NEWS: IRS Issues Revised Guidance on Form W-2 Health Coverage Reporting

Health care reform requires employers to report the aggregate cost of employer-provided health coverage on each employee’s W-2, beginning with the 2012 tax year (i.e., W-2 forms generally issued in January 2013). In 2011, the IRS issued interim guidance on the W-2 reporting requirement. In response to public comments, the IRS has now restated and amended its guidance to clarify several points and address additional issues. The revised guidance is applicable beginning with 2012 reporting but may be relied on by employers voluntarily reporting for 2011, and is effective until further guidance is issued. Here are some highlights.  To read more on the 2012 COBRA reporting please click on the link below.

http://www.ebia.com/News/20776

http://www.irs.gov/pub/irs-drop/n-12-09.pdf