Sage 100

One of our tax experts just came over and asked about MAS90/200 support for the new Health Benefit legislation and W-2 reporting. If you aren't already aware of this rule (I wasn't. <chagrin>), the rule is that companies with more than 250 employees will be required to report the dollar value of health benefits paid on behalf of their employees. Use Box 12 code DD for health benefits. Just something you'll want to make sure your bigger clients know about.

I was pleased to see Sage being proactive this time - the mod for this will be included in the IRD set to come out the 20th.

Dare I assume that Abra is doing the same????????

Thank god for government regulation. It keeps people like Sage and us in business. Score one for productivity in America!

Are you being snarky???

Who, me??

Actually this is a good regulation - we have too many people who don't think we have a problem because their job provides them ""free"" health care.

Uh, Oh....................

No, @PhilMcIntosh I actually have to say I agree with you on this one. As a business owner who shells out nearly $2,000/month per family, employees don't think of this when they look at their comp. often. That being said, Obamacare is a slow motion trainwreck...

Back when I was on the other side of the desk, we would send out benefit statements to each employee in January detailing their wages and listing the costs associated with each of their benefits. The numbers really add up quickly!

From what I understand of the IRD, it provides the ability to inculde the DD code in Box 12, nothing more (I haven't seen the IRD yet, so I could be wrong). The other part of this equation is how to get the numbers in Box 12. The guidance on the reporting says that you must report the ""aggregate reportable cost"" which means both the cost paid by the employer and the cost paid by the employee. Most of my clients have the cost paid by the employee because it is deducted from their pay. But how do we get the amount paid by the employer in Box 12 with the DD code? I am still pondering that one. Good thing only employers issuing more than 250 W-2s have to report this on the 2012 W-2.

I don't have the IRD yet, but wouldn't it just a matter of marking the code ""DD"" in the W2 Box 12 code for both the employee deduction code and the employer contribution deduction code? Payroll is not my strong suit, so I could be totally wrong.

Here are the instructions from Sage on Employer-Sponsored Health Coverage.

There was a news story on how a 2 month extension would be nearly impossible to implement in time due to how hard the democrats wanted to insure the evil rich don't get any benefit since bonuses and other compensation typically apply to a year and not just 2 months

Question and answers from IRS - http://www.irs.gov/newsroom/article/0,,id=237894,00.html

I am sure there is plenty of blame to spread arround. Now that the war in Iraq is ""over"", maybe we can sell some Army surplus to pay down the deficit.................

Well, looks like all is well for the next two months................

Had the original Senate bill passed it would've required major recalculations and programming in the payroll module