Archive by tag: W-2Return
For purposes of the cafeteria plan nondiscrimination testing, the employer will use gross annual compensation which includes all taxable wages the employee receives from the employer, adds back any pre‐tax benefits the employee elects, as well as adds any taxable benefits the employee receives.
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Categories: Benefits in General, Compliance, Health Care in General | Tags: Cafeteria Plan , Nondiscrimination Testing , HCFSA , DCFSA , Flexible Spending Account , FSA , IRS , Annual compensation , Gross Compensation , W-2
As the April 18th income tax deadline quickly approaches, employees that participate in a cafeteria plan that includes employer sponsored health insurance, health care flexible spending accounts (HCFSA), dependent care flexible spending accounts (DCFSA) and health savings accounts (HSA) should keep a few things in mind.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: HCFSA , HSA , DCFSA , 1099-SA , Form 2441 , Form 8889 , Income Tax , IRS , April 15th , W-2 , Employer-sponsored Health , Health Insurance , ACA
The Internal Revenue Service, state tax agencies and the tax industry today renewed their warning about an email scam that uses a corporate officer’s name to request employee Forms W-2 from company payroll or human resources departments.
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Categories: Benefits in General, Compliance | Tags: IRS , Phishing , W-2 , SSN
The IRS is reminding employers and small businesses that Forms W-2 and Forms 1099-MISC reporting compensation to non-employees must now be filed with the Social Security Administration by January 31. In addition, the IRS is reminding individual taxpayers that refunds for tax returns claiming either the Earned Income Tax Credit or Additional Child Tax Credit will be held until February 15.
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Categories: Compliance | Tags: W-2 , 1099-MISC , IRS
Last week, the IRS released updated FAQs regarding reporting of employer provided health coverage on Form W-2. The updated FAQs incorporate guidance set forth in Notice 2012-9. Generally, employers filing more than 250 Forms W-2 must report the value of employer provided health coverage starting in calendar year 2012 (on Forms W-2 furnished to employees in 2013).
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Categories: Health Care Reform | Tags: W-2 Reporting