Tuesday, January 17, 2012

More Guidance on Code DD Reporting on 2012 W2 Forms (issued 2013)

For certain employers and with respect to certain types of coverage listed below, the requirement to report the value of coverage will not apply for the 2012 Forms W-2 AND will not apply for future calendar years until the IRS publishes guidance giving at least six months of advance notice of any change to the transition relief.

The transition relief applies to the following:

(1) employers filing fewer than 250 Forms W-2 for the previous calendar year

(2) multiemployer plans;

(3) Health Reimbursement Arrangements;

(4) dental and vision plans that are not integrated into another group health plan;

There were numerous other clarifications, however, the above will negate this issue for all of our client base so we don’t need to delve into them!

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