Hi All,
My employer sent me a W-2C with an increased amount for box 12 Code E - 403(b). Is it necessary to amend my previous year's tax return? Will this affect the bottom line of the tax return?
Thanks!
Box 12 Code E on your W-2C refers to elective deferrals under a 403(b) retirement plan. Whether you need to amend your previous year's tax return depends on the specific circumstances:
I would begin the amend process just so you may tell if you need to amend or not by changing the amount in Box 12 of your W2.