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Special W-2 Reporting Situations

Special W-2 Reporting Situations

Employers offering use of a company auto to employees must report fair market value of personal use as a non-cash fringe benefit on the employees’ W-2, this includes officers of S-Corporations.

Officers of S-Corporations are required to add the amount their health insurance premiums paid for by the corporation.

Please make sure you are prepared to provide this information to your payroll provider at the end of 2012 to insure compliance with this rule. Call us at 602-357-3275 with any questions!

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PLEASE NOTE: As of late Aug 2018 there was a proposed law change that would disallow a double deduction for these charitable credits at the federal level for contributions made after Aug 2018. You are still eligible for the AZ state tax credits as the change would only impact your ability to take them as charity donations at the federal level.
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