The benefit of a January 1, 2023, policy effective date is that it ensures that all employee expenses are being handled consistently and fairly for the entire 2023 tax year. Using any other effective date in 2023 will result in inconsistent tax consequences for W-2 reporting for 2023, which should be avoided if possible.
The FAQ page will be available by the end of this week (December 23, 2022) and we expect it will be updated regularly over the next month or two.
The benefit of a January 1, 2023, policy effective date is that it ensures that all employee expenses are being handled consistently and fairly for the entire 2023 tax year. Using any other effective date in 2023 will result in inconsistent tax consequences for W-2 reporting for 2023, which should be avoided if possible.
The FAQ page will be available by the end of this week (December 23, 2022) and we expect it will be updated regularly over the next month or two.