Reporting Employer Provided Health Coverage in Form W-2, ALABAMA'S #1 TAX SERVICE

The Affordable Care Act requires employers to report the cost of coverage under an employer-sponsored group health plan on an employee’s Form W-2, Wage and Tax Statement, in Box 12, using Code DD. Many employers are eligible for transition relief for tax-year 2012 and beyond, until the IRS issues final guidance for this reporting requirement.
The amount reported does not affect tax liability, as the value of the employer excludible contribution to health coverage continues to be excludible from an employee's income, and it is not taxable. This reporting is for informational purposes only, to show employees the value of their health care benefits so they can be more informed consumers.

MOORE'S SERVICE, LLC

2160 Green Springs Hwy, S. Suite E. 

Brimingham, AL 35205

Phone: (205) 324-8753

Email: mooresservices1@gmail.com

Website: www.mooresservicesonline.com

Blog: www.mooresservices.blogspot.com

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