The IRS on announced that it has delayed the filing requirement for companies to report the cost of supplying healthcare coverage to their employees. Employers were originally required next year to include on workers’ W2 forms what it cost to supply them healthcare coverage. That requirement is now optional in 2011, to give employers more time to adjust their payroll systems.
“Although reporting the cost of coverage will be optional with respect to 2011, the IRS continues to stress that the amounts reportable are not taxable,” states an IRS release. “Included in the Affordable Care Act passed by Congress in March, the new reporting requirement is intended to be informational only, and to provide employees with greater transparency into overall health care costs.”