Human Resource & Labor News
www.agc.orgNovember 30, 2010 / Issue No. 6-10
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On the Inside
Professional Development
Dec. 8-9 Davis-Bacon Webinar Offers HRCI Recertification Credits and Compliance Manual Discount
Co-located HR Professionals and T&D Conferences Attract Record Attendance
Open Shop Contracting
Open Shop Contractors to Meet During AGC Convention
Union Contracting
Carpenters and Operating Engineers General Presidents to Speak at AGC Convention
AGC Files Comments on FASB Multiemployer Disclosure Draft; FASB Delays Implementation
Health Care
Federal Government Makes Changes and Issues Guidance on Grandfathered Health Plans
IRS Defers 2011 Form W-2 Health Care Reporting Requirement; Draft Form Released
Equal Employment Opportunity
EEOC Issues Final GINA Regulations
Web-Based Toolkit Aims to Help Employers Hire Veterans
IRS Defers 2011 Form W-2 Health Care Reporting Requirement; Draft Form Released

On October 12, 2010, the Internal Revenue Service (IRS) announced that it will defer, for one year, a health care reform law requirement that employers report the cost of coverage on employees' W-2 wage and income statements.  The postponement was made in order to provide employers the time necessary to make changes to payroll systems and procedures in accordance with the new reporting requirement.

The announcement came at the same time the agency released a 2011 draft Form W-2, which already includes the codes that employers will use to report the cost of health care coverage under an employer-sponsored group health plan.  Rather than issuing a new form, the IRS will allow employers to choose whether or not to include the information in 2011.

The IRS also noted that the W-2 reporting requirement is only for informational purposes and the amounts that are reported will not be taxable.

AGC will continue to monitor any new developments and will share guidance from the IRS, and a final version of the 2011 Form W-2 once they are made available.
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