Optional Health Insurance Reporting

If it’s OPTIONAL, there is no need to comply.  Compliance costs both your time and your money. 

The latest rules released by the IRS explained here:  http://www.irs.gov/newsroom/article/0,,id=237870,00.html require that small employers (less than 250 W-2′s per year) do not have to report health insurance benefits paid on behalf of their employees.  Others will have to comply in 2013 when reporting 2012 W-2′s.

Draft of Form 940 for 2011

http://www.irs.gov/pub/irs-dft/f940–dft.pdf

Above is the latest draft release of Form 940 for 2011, which requires that you separate FUTA taxable wages for the first six months of the year from the last six months of the year.