Posted on 01/13/2012 12:48:28 PM PST by mdittmar
The Patient Protection and Affordable Care Act of 2010 requires employers to report the cost of employer-sponsored group health plan coverage on Forms W-2. The Internal Revenue Service (the "IRS") issued interim guidance regarding this informational reporting requirement in Notice 2011-28. In response to comments on Notice 2011-28, the IRS, on January 3, 2012, released an advance copy of Notice 2012-9, which supersedes Notice 2011-28.
In general, Notice 2012-9 retains much of the original guidance set forth in Notice 2011-28, but with certain notable changes and additions, including the following:
Clarifies that the requirement to report the cost of coverage will not apply to an employer that files fewer than 250 Forms W-2 for the preceding calendar year.
Clarifies that the reporting requirement does not apply to coverage under a health care flexible spending arrangement funded solely through employee salary reductions.
Provides that the standard for determining whether the cost of dental or vision coverage is reportable, is the same standard that is used for determining whether coverage is subject to the Health Insurance Portability and Accountability Act of 1996 portability rules.
Please see full Alert below for further information.
Enabling Act of 1933...
Soviet Article 58. See tagline.
“Is this the part that if you dont have health care because YOU DONT HAVE A JOB that you get fined and put in jail?”
Is that still in the legislation? I remember some talking head saying “Oh, they will have to make some provision for the unemployed.”
Are they really planning to put people in jail for being poor?
Why else put it on your W-2?
We used to have 18 professional employees and 5 support staff. The last few years we have chosen to have 1 professional employee and 1 support staff. We are retiring in a few months (a few years earlier than planned). Bah Humbug to nobama care.
“I only have 17 more to go... I was over 250 in 2008... down to 233. I have 3 on the payroll just to handle Govt paperwork.”
God be with you, So Cal Rocket. You’re running a business in CALIFORNIA of all places. You are a brave soul!
The war on job creators is getting ridiculous. You risked everything to run a small business, found success, hired people, and now YOU are the bad guy. The guilty “one percent.” How dare you employ all those people and take all the risk and all the stress!
Even if we get a new administration in November, the California legislators seem like they are committed to turn that once great state into a living nightmare... politically and spiritually.
Sad thought, but I don’t think anything but a complete spiritual revival is going to turn California around. I don’t expect it. Pastors today are lame dogs and the churches are silent while their country goes straight to Hell.
So Cal, perhaps you might need to work on a long-term plan to relocate to a more business-friendly/freedom-friendly state. Depending on what industry you are working in, the lawmakers could pass a rule banning what you do. It might be good to have a relocation plan ready just in case. Sad thought, I know!
I’m working very hard on my own startup and hope to join you as one of those hated business owners soon.
Best wishes to you!
I know, citing the obvious, how lame of me.
Funny how it took YOU to cite the obvious. Eleven posts before it was said.
And, here I been braggin' on the smarts of FReepers... :O)
didn’t take the time to read the posts on this one but sometimes I do miss stuff but I’m never an asshole
Unless I missed it it was not appealed
One of the most horrible parts of Obamacare is it give the executive branch the power to make up the rules whenever it sees fit. PRIOR to the election it can create guidelines (ie LAWS) that will not sound too terrible. AFTER the election, it can create NEW guidelines (ie LAWS) that will shackle people such as those that would make Hitler or Stalin proud |
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