Elizabeth Dold is quoted in the article, “Employers Welcome IRS Deferral of Health Care Reform’s W-2 Reporting Requirement,” on the HR Hero blog on October 13, 2010. Ms. Dold said, “The relief is an important first step to properly addressing the new reporting requirement, which may first become effective as early as February for terminated participants that request a W-2. It gives employers, the health care industry, and the payroll industry much needed time to begin to work through the numerous issues and make the necessary system changes.”
She added: “This relief is particularly important in light of the increased W-2 penalties that become effective next year and as we anxiously await the substantive guidance that the relief indicates is coming later this year. Also, the use of existing Box 12, with new code ‘DD,’ also helps lessen the burden on the needed system changes to support the new reporting. Well done.”
