As 2012 is merely weeks away, Vensure would like to share the following State Taxable Wage Base chart for 2012 and 2011 (for comparison). Please note, states that have changed their wage base for 2012 are highlighted in gray.
Effective: January 1, 2012
We appreciate your business and look forward to the opportunity to serve you in the new year.
We are fast approaching year end and W-2 time for 2012. In order to ensure that W-2’s are issued timely and accurately we are requesting that you report to us any cash or non-cash items that have not been previously reported to Vensure through the normal payroll process that need to be included on employees W-2’s. Examples of this may include, but are not limited to, third party sick pay, fringe benefits, and personal use of a company vehicle. Also, new to 2012 the IRS now requires that the employer paid portion of group medical be included in box 12 of Form W-2. If you are contributing to your employees group medical, please provide the amount contributed to each employee’s health care cost. This is not a taxable event to the employee, however it is now required for informational purposes on the Form W-2.
Please consult with your accounting department or CPA to determine if any additional information needs to be reported on FORM W-2 for 2012 that has not been previously reported to Vensure. We will need to receive this information no later than Friday, December 28 in order to prevent any penalties or fees for late filing. Any information received after this date will incur penalties and additional fees or may not be accepted. Please feel free to contact your payroll or client relations representative if you have any additional questions in regards to this notice.
Vice President of Operations
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