I've learned that based on the CARES act my employer chose to defer their SS and Medicare tax payment on a group life insurance policy (taxable income). (found on the W-2 they sent- boxes 12b had code M and box 12c had code N.
Does this mean the employee is impacted filing taxes?
Does this mean that I will receive a W-2c for 2020 next year and that I will need to file a corrected 2020? or even 2021 ? since the CARES act allows employers under certain conditions to also defer payment to 2022 in some cases.
