Payroll Taxes

New and Updated

• Date:

  November 5, 2024

  Type:

  News

  401(k) Maximum Going Up to $23,500 Next Year

  The IRS has released its 2025 cost-of-living adjustments (COLAs) to benefits and contributions to qualified retirement and deferred contribution plans.

• Date:

  October 14, 2024

  Type:

  News

  Social Security Payroll Tax Wage Cap Going Up 4.4%

  The maximum earnings subject to the Social Security payroll tax will increase from $168,600 to $176,100 for 2025.

• Type:

  Quick Reference

  Social Security and Medicare Tax Rates and Benefit Amounts

  Updated to reflect inflation-adjusted amounts, effective January 1, 2025. 

• Type:

  Legal Timetable

  Mississippi Lowers Forms W-2 and 1099 Electronic Filing Threshold

• Type:

  Employment Law Guide

  Depositing and Reporting Withheld Taxes: Mississippi

  Updated to reflect a lower information return electronic filing threshold, effective September 11, 2024.

• Type:

  Legal Timetable

  Colorado Amends Quarterly Unemployment Tax Wage Reporting Requirements

• Type:

  Employment Law Guide

  Unemployment Insurance Tax (FUTA/SUTA): Colorado

  Updated to reflect amended quarterly reporting requirements, effective September 30, 2024.

• Type:

  Employment Law Guide

  New Hire Paperwork: Maryland

  Updated to reflect revisions to new hire pay rate notice requirements, effective October 1, 2024.

• Type:

  Legal Timetable

  Delaware Amends Unemployment Insurance Experience Rating Method

• Type:

  Employment Law Guide

  Unemployment Insurance Tax (FUTA/SUTA): Delaware

  Updated to reflect a forthcoming change in the experience rating method.