The new guidance runs about 20 pages. But in brief, it notes that employers will be required to report these amounts to employees either on Form W-2, Box 14 or in a separate statement provided with the Form W-2. The guidance provides employers with model language to use as part of the Instructions for Employees for Form W-2 or on the separate statement provided with the Form W-2.
Reporting leave from self-employment
The wage amount that the notice requires employers to report on Form W-2 will provide employees who are also self-employed with the information necessary to determine the amount of any sick and family leave equivalent credits they may claim in their self-employed capacities.
The provisions in the notice can be quite technical, so anyone affected should get advice from a qualified tax professional.
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