I received a letter from my employer today stating that they will be issuing a corrected W-2 due to not properly accounting for the group term life insurance they provide as a benefit. They stated this will affect Medicare and Social Security taxes in accordance with IRS Publication 15-B. They stated that the current backlog for processing the corrected W-2 with the IRS is 12 weeks. Assuming I will not receive my corrected W-2 by April 18, do I file and extension or file and amend the return later.
