Complying With the New Form W-2 Rules for Reporting Health Care Benefits (OnDemand Webinar)

$69.00

SKU: 408130EAU

Description

Tax reporting rules can be confusing, make sure you are in compliance with required reporting for health care benefits.The Affordable Care Act requires employers to report the cost of coverage under an employersponsored group health plan. Reporting the cost of health care coverage on the Form W2 does not mean that the coverage is taxable. The value of the employer’s excludable contribution to health coverage continues to be excludable from an employee’s income, and it is not taxable. This reporting is for informational purposes only and will provide employees useful and comparable consumer information on the cost of their health care coverage. This topic will help those responsible for complying with these information reporting requirements understand when reporting is required, which forms of health care are included, and how to identify and correct errors on Form W2. This information is critical for employers so that they can ensure compliance with this reporting requirement and avoid penalties for failure to accurately report.

Date: 2021-11-08 Start Time: End Time:

Learning Objectives

The Basic Form W-2 Reporting Requirements
• Information Returns, Generally
• Form W-2 Generally

Reporting the Cost of Employer-Sponsored Health Coverage
• Types of Health Care Coverage Required to Be Reported
• Valuing the Cost of Coverage

FSAs, HSAs, and QSHERAs
• Reporting FSA Amounts
• Reporting HSA Amounts Under 6501(a)
• Reporting QSHERA Amounts

Frequent Errors Made on Form W-2 Health Care Reporting
• Failure to Include Health Care Coverage Value
• Failure to Use an Approved Valuation Method
• Failure to Exclude Coverages When Appropriate

Making Corrections on Form W-2
• De Minimis Safe Harbor
• 941-X

HR Certification Institute ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Eric W. Gregory-Dickinson Wright PLLC