The Internal Revenue Service (IRS) recently released a draft Form W-2, Wage and Tax Statement for 2011.
Box 9 Is not Applicable for 2011 Form
Box 9, which formerly showed the amount of any Advance Earned Income Credit (EIC) payment, is not applicable for 2011 since it was repealed. The credit will now be claimed on the taxpayer’s individual income tax return, when filed.
Code DD Added to Box 12
The reporting in Box 12, using Code DD, of the cost of employer-sponsored health coverage is for information only. This reporting will be optional for 2011 and required starting for 2012 tax year reporting.
Contact Vision Payroll if you have further questions on the 2011 draft Form W-2.