I’m a Multnomah County employee. If I receive the COLA retro payment will I receive an amended W2?
No. Retro pay/back pay is considered wages in the year it was paid in accordance with IRS regulations. Since the retro pay is being paid out in 2023, the retro earnings are considered 2023 income not 2022 income so there is no need to reissue amended W2’s.