Payroll Year-End 2024: Year-End Payroll Forms and Due Dates

By Vinoth Elangovan | 10/16/2024 | 3 min read

Year-end payroll is a critical time for businesses, payroll service bureaus, and accounting firms. Navigating the complexity of payroll forms and deadlines can be daunting, but understanding the key requirements will help ensure compliance and streamline your processes.

Here's a breakdown of the nine most important forms you’ll need to file, along with their deadlines, for payroll year-end 2024.

The Necessary Nine Payroll Forms for 2024 Year-End Payroll:

Form W-2 (Wage and Tax Statement)
This form reports employees' annual earnings and tax withholdings. Employers must generate and distribute W-2 forms to their employees to meet federal requirements.
Form W-3 (Transmittal of Wage and Tax Statements)
A summary of all W-2 forms issued by the employer. It is submitted to the Social Security Administration (SSA) along with the W-2 forms.
Form 1099-NEC (Nonemployee Compensation)
This form is used to report income paid to contractors. For 2024, businesses must report payments over $600 to non-employees or over $10 for royalties.
Form 1096 (Annual Summary and Transmittal of U.S. Information Returns)
Employers who file 1099-MISC or 1099-NEC forms for contractors must submit Form 1096 to summarize the total non-employee payments.
Form 940 (Employer’s Annual Federal Unemployment (FUTA) Tax Return)
Employers use Form 940 to report their annual Federal Unemployment Tax Act (FUTA) tax, which provides funds for paying unemployment compensation to workers who lose their jobs.
Form 941 (Employer’s Quarterly Federal Tax Return)
This form reports federal income taxes, Social Security, and Medicare tax withheld from employees’ paychecks. It also details the employer’s portion of Social Security and Medicare.
Form 944 (Employer’s Annual Federal Tax Return)
Designed for smaller employers, Form 944 summarizes the total annual federal tax liability for those paying $1,000 or less in annual payroll taxes.
Form 945 (Annual Return of Withheld Federal Income Tax)
Form 945 reports nonpayroll federal income tax withheld, such as backup withholding and withholding on pensions, annuities, and gambling winnings.
Form 1095-C (Employer-Provided Health Insurance Offer and Coverage)
Applicable to employers with 50 or more full-time employees, this form reports information regarding health insurance coverage offered to employees.

Key Payroll Year-End Deadlines for 2024

It’s crucial to submit these forms on time to avoid penalties. Here’s a summary of the IRIS electronic filing deadlines for each form:

Payroll Form / Report	IRS ELECTRONIC FILING DEADLINE	EXCEPTIONS
W-2	January 31
W-3	January 31
1099-NEC	January 31
1099-MISC	March 31	If filed by paper, this form is due on February 28
Form 1096	February 28	January 31, when filed with Form 1099-NEC May 31, when filed with Form 5498
Form 940	January 31
Form 941	January 31
Form 944	January 31	The deadline may be extended to February 10, provided deposits are made in full and on time.
Form 945	January 31	If you made deposits on time in full payment of the taxes for the year, you may file the return by February 10
Form 1095-C	March 31

Additional Resources for a Smooth Year-End
For more detailed guidance on handling year-end payroll tasks, including step-by-step preparation, required reports, and compliance tips, download our expert resource, Mastering Year End Payroll: A Guide for 2024. This guide covers everything from W-2 and 1099 preparation to tax reconciliation and labor law compliance. Whether you’re managing payroll for your clients or your own business, this guide will help you navigate year-end with confidence.