For the very ignorant students in the class:<quoted text>
Yes,m, you should read the law.
The ACA dores not make your employer provided healthcare benefits taxable as part of your income.
You are either lying or dumber than sh*t. In your case, likely both.
The value of health care coverage provided by your employer is now reported in Box 12 with Code DD to identify the amount. The amount reported in the box should include both the portion paid by your employer and any amount paid in by you.
Prior to ObamaKare, this wasn't on the W-2.
So why is this information showing up on your form W-2 now? Under ObamaKare, most employers must now report the cost of your health care plan. A few small businesses have received an exemption from reporting under the transitional relief subjectively offered by IRS.
If it's on the W-2, it's already taxable, dumbass. The only thing that's required is the order given to the IRS to apply a tax. I'm thinking that will happen in 2017. It doesn't really matter who wins, as far as this goes. The government has been driven so far into debt, it will have to use any excuse it has to get revenue. With the economic "recovery" putting 5 people into poverty and being supported by the government for every tax payer it generates, the IRS will be given the order to count the health care benefit as taxable income.
Do you ever know anything about what comes out of your mouth?