Share |

IRS Further Delays Health Insurance Coverage Information Reporting for Small Employers

A new IRS Notice provides interim guidance significantly relaxing the Patient Protection and Affordable Care Act's (PPACA's) information reporting requirement for employer-sponsored health coverage. Under the new guidance, reporting continues to be voluntary for all employers in 2011, and it will be voluntary for small employers until further guidance is issued, but at least through 2012. The Notice also provides guidance on the nuts and bolts of the information reporting rule for employers who will be subject to it, and those employers that choose to voluntarily comply with it.

For tax years beginning on or after Jan. 1, 2011, PPACA generally provides that the aggregate cost of the applicable employer-sponsored health insurance coverage must be reported on Form W-2. For this purpose, the aggregate cost is to be determined under rules similar to the rules referring to the definition of the “applicable premium” under the rules providing for COBRA continuation coverage.

In the recent notice IRS made this new reporting requirement optional for all employers for the 2011 Forms W-2 (which would generally be given to employees in January 2012).

This delay provides further relief for small employers (i.e., those filing fewer than 250 Forms W-2) by making reporting optional for health coverage provided through at least 2012, or until further guidance is issued by IRS. In other words, small employers won't have to report the cost of health care coverage on any forms required to be furnished to employees before January 2014, at the earliest.

"I have found them to be very approachable and available to assist us in any way possible. They have always exuded professionalism and honesty in all of our transactions. Based on my experience, I would recommend Schlabig & Associates to any firm seeking a reliable accounting firm."
– Robert B. Trammell
General Manager, Sheraton Suites, Akron/Cuyahoga Falls
(Read More)

Advising clients how to keep more of what they earn,
with no surprises.

"With the knowledgeable assistance of Schlabig & Associates, MB Kit Systems has beaten the odds and made the transition from start-up to successful. I have no reservations recommending Schlabig & Associates as a trusted and professional accounting firm."
– Eveline Nordhauss
President, MB Kit Systems, Inc.
(Read More)

Advising clients how to keep more of what they earn,
with no surprises.

"We've partnered with Schlabig for well over 20 years. When we made the change years ago, Schlabig brought a refreshing level of professionalism to our business. As the years have passed, Schlabig has kept ahead of the technology curve, making it much easier for us and much more cost effective."
– Rick Bissler
Bissler & Sons Funeral Home and Crematory, Kent, Ohio
(Read More)

Advising clients how to keep more of what they earn,
with no surprises.

"The Schlabig team has served my individual and corporate needs for two decades. The relationship has been marked by excellent work, timely responses and accommodating service at every opportunity."
– Rich Jusseaume
(Read More)

Advising clients how to keep more of what they earn,
with no surprises.

"Schlabig and Associates provides high quality, professional accounting services together with a personal touch. I feel strongly that I'm doing business with a trusted advisor who cares about my financial success and offers ideas, solutions and best practices to help me maximum my income."
– Andy Haag
Lawyer, Regas & Haag, Ltd., Canton, Ohio
(Read More)

Advising clients how to keep more of what they earn,
with no surprises.

"Our relationship with Tom and his team at Schlabig is invaluable! The relationship started in 2010 when we outgrew our existing firm. Schlabig offered the Experience, 21st century knowledge and the relationship accounting we were looking for. They are more than just our accountants, they are part of our team!
– Chris McPhie
JD Byrider Superstores
(Read More)

Advising clients how to keep more of what they earn,
with no surprises.

"I have been fortunate to have Tom Hager and Schlabig & Associates as my accountants since 1979. During those years I have always found Tom to be generous with his time. He has always ensured that any questions I may have about a particular issue are answered to my satisfaction. I know I can always rely on Tom. "
– Richard Schaack
Davey Industries, Ravenna, OH
(Read More)

Advising clients how to keep more of what they earn,
with no surprises.

"If you're looking for integrity, honesty, responsibility and respect, these qualities are all found in Tom Hager, a man of high merit, and his firm, Schlabig & Associates."
– Robert Ackworth
Kent, Ohio
(Read More)

Advising clients how to keep more of what they earn,
with no surprises.

"Schlabig is remarkably customer centric. I recently had a question late on a Friday afternoon. Knowing she was on vacation, I sent my Schlabig representative an email requesting a call during the following week. Within two minutes of my email she was on the phone with the answer I needed."
– Drew Shippy
President, Pinnacle Communication Group, Inc.
(Read More)

Advising clients how to keep more of what they earn,
with no surprises.