Hello,
I am in a situation where my company did not stop my 401k contributions fast enough in 2023. We contacted them about the error and their response was to not issue us a new w2, cut us a check with the original amount plus the gains for the year before April 15th of 2024, and send us a 1099-R next year in 2025. I want to make sure or ask that in this situation, according the IRS website, we will not be double taxed since we are correcting the situation before April 15, however they state that the money will be counted as income towards the 2024 year. This would be acceptable to me since I obviously need to be taxed on the excess untaxed money however since they will not issue us a new w2, I wanted to know if the best way to report this is file this year with the incorrect W2 and then wait and file next years taxes with the 1099-R or if there is something I need to do now that I don't know about.
Thank you!,
LaLiving32
