Content updated February 14, 2025

Year-end is a busy time of year for HR and payroll professionals: along with their “normal” everyday duties, they have to deal with added challenges of open enrollment for benefits, getting W-2s distributed on time, and ACA 1095-C reporting. Fortunately, the IRS gave us an extension for providing 1095-Cs to employees so we get some breathing room on that one at least. We’ve put together some pertinent payroll year-end information for you – all in one spot!

Some important IRS deadlines for Tax Year 2024:

  • January 31, 2025:
    • W-2s to employees and the SSA
    • EFW2
    • 1099s to vendors and the IRS
  • March 3, 2025: 1095-Cs to employees
  • February 28, 2025: 1095-C and 1094-C paper filing deadline to IRS (only if not e-filing)
  • March 31, 2025: ACA 1095-C and 1094-C E-filing deadline to IRS (required if over 100 employees)

Some important Microsoft Dynamics® GP release dates to remember:

  • Mid-November: Microsoft Dynamics® GP (formerly known as GP 2018) year-end update released
  • Late November: Integrity Data Microsoft Dynamics® GP year-end release for all payroll and HR products.
    • These products will be available for download here
  • Late December: Round 1 tax table update
  • Mid-January: Round 2 tax update

Get all the details about year-end activities for GP in our webinar. View the recording here.

Integrity Data ACA customers can rest assured that their ACA reporting solution is always up-to-date.

The ACA solution is now able to generate 1095-Cs. We’re ready to start on these forms when you are. Let us know if you need help getting through your ACA year-end activities, whether that’s just some additional hand-holding, or having Integrity Data perform your ACA year-end activities for you.

Lastly, payroll professionals have to deal with ensuring deduction amounts are correct for the new year; while also making sure the IRS limits are setup correctly in their payroll systems.

  • The FICA Social Security wage limit is going to $176,100. This amount will be included with the year-end tax table updates from most payroll software vendors, including Microsoft Dynamics GP and Microsoft Dynamics 365 Payroll. Be sure you don’t apply this until you have completed your last payroll of 2024, and you have created your year-end W-2 file.
  • Some important amounts for retirement limits are as follows:
    • 2025 401(k), 403(b), 457(b), & SEPs: $23,500 with a Catch-Up of $7,500
    • 2025 SIMPLE IRA: $16,500
    • 2025 SIMPLE IRA Catch Up: $3,500
  • Be sure to review shared maximums.
  • The tax rates for imputed income of employer-paid life insurance are unchanged for the upcoming year.
  • Remember, the Tax Cuts and Jobs Act has affected the taxability of many employer-provided fringe benefits. Make sure you are properly applying these regulations.

Staying current on the ever-evolving regulations around payroll and human resources can be challenging. The Integrity Data team works hard to make this easier for you. Reach out to us with your challenges and we’ll work hard to come up with a creative solution using technology and services.