File and Furnish Forms W-2
Jan. 31, 2025
File Forms W-2 with the Social Security Administration (SSA) and furnish copies to employees, showing the year’s wages paid and taxes withheld for each employee.
Form W-2 Deadline
Employers must file Forms W-2 with the SSA by Jan. 31, 2025. Companies may request a 30-day filing extension by using Form 8809, but extensions will only be granted in limited cases for extraordinary circumstances or catastrophes. Employers must furnish Copies B, C and 2 of Form W-2 to their employees by Jan. 31, 2025.
Employers that filed 250 or more Forms W-2 for the prior calendar year must include the aggregate cost of employer-sponsored health plan coverage on employees’ Forms W-2. The cost of health care benefits should be reported in Box 12 of Form W-2, with Code DD to identify the amount. This reporting is optional for smaller employers.
File and Furnish Forms 1099-NEC, Nonemployee Compensation
Jan. 31, 2025
File Forms 1099-NEC with the IRS if your company made payments totaling $600 or more for services performed by nonemployees. Furnish statements to the nonemployees.
Form 1099-NEC Deadline
Companies must file Forms 1099-NEC with the IRS by Jan. 31, 2025, if they made payments totaling $600 or more for services performed by nonemployees, such as independent contractors, in 2024. A 30-day filing extension may be requested using Form 8809, but extensions will only be granted in limited cases for extraordinary circumstances or catastrophes. Companies must also furnish a copy of Form 1099-NEC to nonemployees by Jan. 31, 2025.
File Form 941, Employer’s Quarterly Federal Tax Return
Jan. 31, 2025
File Form 941 with the IRS to report the federal taxes that were withheld from employees’ pay during the fourth quarter of 2024. A deadline extension may apply.
Form 941 Deadline
Employers must file Form 941 with the IRS by Jan. 31, 2025, to report the federal income taxes, Social Security taxes and Medicare taxes withheld from employees’ pay during the fourth quarter of 2024 (October, November and December). If an employer timely deposited all taxes when they were due, the filing deadline is extended to Feb. 10, 2025.
File Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return
Jan. 31, 2025
File Form 940 with the IRS by Jan. 31, 2025, to report taxable FUTA wages paid in 2024. A deadline extension may apply.
Form 940 Deadline
Employers must file Form 940 with the IRS by Jan. 31, 2025, to report taxable FUTA wages paid in 2024. If an employer deposited all its FUTA tax when it was due, the filing deadline is extended to Feb. 10, 2025.
Compliance Reminders
As 2025 begins, employers should review their compliance with federal, state and local employment laws. This review should include:
- Checking that workplace posters are up to date;
- Verifying minimum wage and overtime requirements and updating the wage base limit for withholding;
- Confirming employee leave policies are consistent with federal, state and local leave laws;
- Reviewing any new fair employment law protections and incorporating changes into employee training;
- Updating the employee handbook and employment policies as necessary;
- Making a schedule for any required workplace training, such as sexual harassment training; and
- Reviewing recruitment and compensation practices to ensure they are consistent with any applicable pay transparency