How to fix Facebook ‘em: email invalid’ error when using GTM

The error message when viewed from JS Console looks like this:

This occurs when ‘Use Advanced Matching’ is used for Facebook pixel. This adds an extra line:
em: ‘insert_email_variable,’ to the FaceBook Pixel.
=> We’ll update the GTM container soon so this update won’t be needed anymore.

HOW TO FIX THE ERROR

Step 1: Login into your GTM Container than follow the steps as shown here:

Step 2:

Step 3:

Step 4:

Step 5:

Step 6:

Step 7:

Step 8:

PLEASE RETEST and MAKE SURE THE ERROR NO LONGER APPEARS