IRS Official Says Guidance on Reporting Health Costs Expected Soon

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Employers can expect guidance addressing the aggregate cost of applicable employer-sponsored coverage reporting requirements on Form W-2 for tax year 2012 to be issued soon, says John Tuzynski, Small Business/Self Employed chief of employment tax operations. Tuzynski says the Office of Chief Counsel is “far along” in the guidance process and the public should expect guidance “within the next 30 days.” In October, the service released Notice 2010–69, which provided interim relief for employers by making reporting the cost of coverage of an employer-sponsored group health plan on Form W-2 optional.