In addition to educating payroll or finance personnel, the IRS and Security Summit partners also urge employers to consider creating a policy to limit the number of employees who have authority to handle Form W-2
requests and that they require additional verification procedures to validate the actual request before emailing sensitive data such as employee Form W-2s
The data validation problem has not been a problem for W-2s
because, in the past, at least, the IRS has not validated W-2s
in the same way that it validates 1095-Cs, Parker said.
Thankfully, a subsequent committee recognized the W-2s
that franchisees' employees receive come from the franchisee and not the franchisor--thus abrogating the bill sponsor's position.
She has 18 years' experience in managing trust funds, bank reconciliations, W-2s
, employee deductions'' and more, he said.
1) Employers will be required to report the cost of employee health benefits, both employer and employee contribution, on W-2s
for tax year 2013.
This is not a tax--it is only a reporting requirement--but W-2s
are so intimately associated with taxes that it seems appropriate to include.
Are multiple clients using W-2s
with the same employer for wages and withholding?
Employers filing 250 or more W-2s
for 2012 must report the full cost of health insurance to the employee.
These materials include: health care flexible spending account (FSA) notification of a $2,500 limit for the 2013 plan year; the newly updated state Children's Health Insurance Program (CHIP) notice, which was effective July 31; women's preventive health requirements for nongrandfathered plans; the new Medicare tax on high-wage earners; explanation of the value of coverage that appears on employee W-2s
, including that the amount is not taxable; and an explanation of medical loss ratio (MLR) and how it will be used.
The Seventh Circuit rejected the firm's argument that the consulting fees were really disguised salary The court noted that the firm did not otherwise treat them as labor expenses: It did not withhold payroll taxes, report them on W-2s
, or disclose them on the officer compensation schedule of Form 1120, U.
In addition to the integrated US federal and state W-2
and 1099 eFiling service, Aatrix offers AccountMate payroll clients federal and state payroll forms, more available services for increased payroll reports and a print and mailing out service for employees' W-2s
directly or online.
Employers must be prepared to comply for the 2012 W-2s