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One More Reason You Should File Late

Contributed by mm | March 14, 2005 8:17 AM PST

Below is the mail I received a few minutes ago. I feel fortunate because I haven't filed my tax yet -- I mentioned in previous entries that it might be a wise idea to get an automatic extension. If both Fidelity and Microsoft Benefits department hadn't been able to detect the problem in the last 2.5 months, can you really put your faith on all other tax forms you received?

From: Fidops [mailto:Fidops@FMR.COM]
Sent: Monday, March 14, 2005 8:09 AM
Subject: 2004 Disqualifying Disposition Transaction

Dear [MY NAME HERE],

You are receiving this email in regards to a 2004 sale of your ESPP shares which resulted in a disqualifying disposition. For this type of transaction, the IRS requires Microsoft to treat this income as compensation income, and to include it on your W-2. Accordingly, Microsoft requires Fidelity, as stock plan administrator and recordkeeper, to report that income to Microsoft. Unfortunately, due to a systems error, the ordinary income that resulted from the disqualifying disposition was not reported to Microsoft, and Microsoft therefore was not able to include it on your W-2. As a result, Microsoft will be generating a corrected W-2 to reflect this transaction and will mail it to you within two weeks. We apologize in advance for any associated inconvenience.

If you have any questions or concerns, please call a Fidelity Stock Plan Services Representative toll free at 888-810-MSFT (6738), option 2, Monday-Friday, 5:00 a.m. to 9:00 p.m. Pacific Time.

Sincerely,

Fidelity Stock Plan Services, LLC

Microsoft and Fidelity Investments are not affiliated.

Brokerage services provided by Fidelity Brokerage Services LLC, Member NYSE, SIPC

Copyright 2005 FMR Corp.

All rights reserved.

This Post Has Received 1 Comment. Share Your Opinions Too.


Jonathan Commented on March 15, 2005

Dang, that's annoying. Maybe I will take that extension, just in case.


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