Question: Your client, BIGG Business, discovers that certain employees' Forms W-2 underreported the employees' taxable income. The error was not discovered until May of the following

Your client, BIGG Business, discovers that certain employees' Forms W-2 underreported the employees' taxable income. The error was not discovered until May of the following tax year. Because of this error, BIGG Business's federal employment tax returns are also wrong. Under Circular 230, are you required to act after discovering the W-2 and employment tax return errors?

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