Earlier this week the Obama Administration announced that starting in 2012 it will require employers to provide health-benefits information on W-2 forms.
Originally, the mandate was supposed to apply to tax year 2011 W-2 forms. However, the Treasury Department indicated it will make the data optional for 2011 to allow employers more time to prepare for the requirement.
Although the IRS is soliciting comments on a new W-2 form with an extra field to accommodate the health-benefits information, it expects to make the revised W-2 final by the end 2010. Instructions for the new W-2 reportedly make it clear employees do not owe taxes on the value of group health care coverage reported on the W-2, according to the National Restaurant Association.
