Thursday, January 31, 2013
New York Times and Your 2012 Form W-2
There is an interesting tax article in today’s The New York Times. It discusses the new reporting of employer-provided health insurance on your 2012 W-2. It shows up in Box 12 of the W-2 with code “DD,” and the amount includes both the portion you paid and the portion your employer paid. The article discusses the surprise for some people upon realizing the cost of this benefit.
Being The New York Times, the article had to include some mind-numbing pro-statist comment, and here it is:
The tax-free treatment of employer-provided health benefits is the largest tax break in the tax code, costing the government roughly $180 billion a year in lost revenue, or 80 percent more than the home mortgage interest deduction, according to the administration.”
COMMENT: Where I live, the government costs us. We do not cost the government anything.