Frazer Ryan senior tax partner Lisa Reilly Payton is quoted in a March 28, 2023, “Insider” article on Twitter’s much-publicized W-2 errors.
The article reports that “dozens of employees learned that they may have received W-2 forms that incorrectly reported any income they may have received from the sale of company stock in October” and that the issue likely will not be corrected until after the filing deadline for income tax returns.
“Failure to report all your income, no matter the dollar amount, to the IRS, is a serious issue,” Ms. Payton was quoted in the article.
She went on to note that Twitter employees who had not filed their taxes can seek an extension so that they can get the correct filing from their employer, but that the April 18 deadline for payment of taxes still applies.
“Employees can use existing pay documents to make their best estimate of the taxes they believe are due and pay that by the deadline, and those who have already filed their taxes should amend their tax return when they receive the correct W-2.”
