The Situation Report | February 21, 2023
The state Department of Health (DOH) has posted updated Healthcare Worker Bonus (HWB) Program Frequently Asked Questions (FAQs) that cover treatment of bonuses for tax purposes.
The new questions and answers are:
- How should employees ensure their HWB Program bonus remain exempt from NYS taxes when filing their 2022 taxes, as W-2 income for Federal and State taxes must match?
- Eligible employees should complete Form IT-225 and submit with their NYS tax return.
- When reporting employee earnings, what box on the W-2 should the HWB Program bonus be listed? A. The HWB Program bonus should be recorded in Box 14 of the W-2.
The start date for submission by employers for Vesting Period 3 is April 1, 2023. This covers employees who worked from October 1, 2022 to March 31, 2023.
More information on the HWB Program is available here.