Health Care Benefits on W2s

Small firms indefinitely exempt from reporting health care benefits on W2s.  The IRS recently revised its guidance for employers on the Affordable Health Care Act’s requirement that employers report on W2s the value of the coverage provided to employees.  The requirement is scheduled to being with 2012 W2s. 

The guidance affirms that this requirement does not apply to a firm that filed fewer than 250 W2s the preceding calendar year.  It also states that the small firm exemption is in effect until the IRS says otherwise.