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IRS Issues Additional Guidance on Form W-2 Health Care Coverage Reporting Requirement
The U.S. Internal Revenue Service (IRS) has issued Notice 2012-9 to provide additional guidance on the informational reporting to employees of the cost of their employer-sponsored group health plan coverage on Form W-2. This informational reporting is required under Section 6051(a)(14) of the Internal Revenue Code, enacted as part of the Affordable Care Act of 2010. The IRS requested public comments on the W-2 reporting requirement in Notice 2011-28. Notice 2012-9 responds to these comments and amends, restates and supersedes Notice 2011-28. Specifically, the new notice includes guidance on the W-2 reporting as it relates to small employers, flexible spending accounts, dental and vision plans, COBRA and health reimbursement arrangements.
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