December activities
For detailed information about these year-end tasks, visit and bookmark the ADP TotalSource Year-End & Quarter Close Guide.
Our Year End Webinars have completed, but if you missed them, you can refer to the session recording: ADP YE Readiness Webinar
Recording password: YearEnd24
Review the following items:
· Report Miscellaneous Taxable Income & Taxable Fringe Benefits: Work with your tax advisor to determine what values should be reported to ADP. Your Payroll Advisor will not be able to assist in determining what these values should be. Once your tax advisor provides that information, your Payroll Advisor will take care of recording it. Note that this must be completed by the last payroll of the year.
· Download Year End Items
o W-2 Printable Poster
o Year End Calendar
o Year End Poster
· Preview Forms W-2: This can be accessed in iReports and are updated throughout Year End. Check back periodically for up-to-date versions of the Preview Form W-2. Note: the deadline has now passed for inclusion on the 2024 W-2. Corrections will now result in a W-2C.
§ Review and Approve IRS 1094/1095-C: Applicable Large Employers (ALE) should access the ACA IRS & State Reporting Tool to review ACA forms for accurate and timely filing to the Internal Revenue Service under our client's FEIN. Approval of forms starts 12/12
§ Need Additional ACA Guidance? Learn How to Review & Approve Your 2024 ACA Tax Reporting! (Applicable Large Employers Only offering benefits under the TotalSource Health & Welfare Plan)
· Form W-2 Reporting of Healthcare Value: For employees on ADP TotalSource® managed benefits, our system will automatically create a W-2 worksheet to record the value of employee health care for the year, so it appears in Box 12 Code DD of Forms W-2.
· Review and confirm Minimum Wage requirements in effect Jan. 1, 2025
If you are a new ADP TotalSource client and are still in Implementation, some of these items may not be necessary for you. If you are in Implementation, please reach out to your Implementation Consultant for any Year End related questions.
Need help? Look at the upper right-hand corner of ADP WorkForce Now® to see your support options. Select 'Chat' to be connected to a live representative or create a case in the Service Portal to send in a request.
Stay Tuned for more tips coming next month!