We had an employee drop below a 2% shareholder stake in an S Corp but the payroll service didn't stop adding it to his paycheck for a few months in 2012. Consequently, his 2012 W-2 has an amount in box 14 that shouldn't be there. Other than paying the payroll service 100's of dollars to fix this, is there a way I can submit corrected paperwork myself? I tried to go online but the IRS site told me that I can submit amended w-2's only if box 14 isn't affected.
Or, can the employee just ignores the amount when submitting his taxes?
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