2024: Year-end is here again!
December 2024 | by John Montgomery and Mindy Mayo, KPMG LLP (United States) (KPMG LLP in the United States is a KPMG International member firm)
As 2024 ends, navigating payroll and employment tax complexities is essential for compliance and efficiency. From the intricacies of Forms W-2 processing to multi-state reporting challenges, the article covers essential year-end basics and delves into state, local, and multi-state considerations. Stay informed on the latest federal and state regulations impacting payroll systems, liabilities, and responsibilities. With the looming expiration of the Tax Cuts and Jobs Act (TCJA) provisions by the end of 2025, discover what’s on the horizon and how it could affect your payroll operations. Plus, learn about the increase in the social security wage base for 2025 and what this means for your payroll planning.
Whether it's avoiding common filing mistakes, navigating the complexities of supplemental wages, or understanding the value of employee awards, this article offers actionable tips and reminders for a smooth transition into the new year. Prepare for potential changes under new administrations at both state and federal levels. Download now and stay ahead.
2024: Year-end is here again!
Download PDFMobility Matters, published by KPMG's Global Mobility Services (GMS) practice, offers thought-provoking articles that can help raise awareness about topical and timely issues affecting international assignment programs and globally-mobile employees working for multinational organizations.