Colleenz
Senior Member
Joined: Dec 20, 2010 8:56:39 GMT -5
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Post by Colleenz on Nov 5, 2012 10:18:36 GMT -5
I just heard that in 2013 that my company paid portion of my health insurance will be reported on my W2. Will this be considered taxable income?
Thanks!
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Deleted
Joined: Nov 16, 2024 15:36:00 GMT -5
Posts: 0
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Post by Deleted on Nov 5, 2012 10:19:17 GMT -5
No. It is just going on there as an informational amount.
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mwcpa
Senior Member
Joined: Jan 7, 2011 6:35:43 GMT -5
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Post by mwcpa on Nov 5, 2012 10:24:59 GMT -5
as noted by Archie, this is informational only.
the McCain plan of the last election cycle proposed making this benefit taxable.... and there has been rumors that the Romney/Ryan tax plan may do the same....
PPACA "taxes" Cadillac plans, this disclosure may bring those to the attention of the IRS....
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Colleenz
Senior Member
Joined: Dec 20, 2010 8:56:39 GMT -5
Posts: 3,983
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Post by Colleenz on Nov 5, 2012 11:02:02 GMT -5
Whew - thanks guys!
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rangerj
Junior Member
Joined: Jan 21, 2011 13:39:35 GMT -5
Posts: 242
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Post by rangerj on Nov 8, 2012 9:51:25 GMT -5
BEWARE: The exclusion from income of the employee benefit of health care/insurance is one of the largest tax expenditures (deduction/credit) in the tax code. Given the 16 Trillion and climbing national debt this tax expenditure would be an easy target. Food for thought.
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TheOtherMe
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Post by TheOtherMe on Nov 8, 2012 14:54:23 GMT -5
I think it's been discussed in the past. It was part of the McCain plan.
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