2024 Form W-2 Update

The update for Form W-2 is that in addition to box 12 FF, GG, and HH, a new box 12 code, II, has been added for Medicaid waiver payments excluded from gross income under Notice 2014-7.

For more information, see the General Instructions for W-2 and W-3: https://www.revenue.alabama.gov/individual-corporate/overtime-exemption/

 

Federal Income Tax Withholding 2025 Updates

The updates for federal income tax withholding effective January 1, 2025 are:

• The annual additional amount of a nonresident alien employee, who was first paid wages before 2020 and has not submitted a Form W-4 for 2020 or later, increases from $10,300 to $10,700.

• The annual additional amount of a nonresident alien employee, who has submitted a Form W-4 for 2020 or later or was first paid wages in 2020 or later, increases from $14,600 to $15,000.

• The percentage method’s tax brackets were adjusted.

 

2024 Federal W-2 Electronic Filing Updates

The updates for Federal W-2 Electronic Filing are effective January 1, 2025:

• The RO (Employee Optional) Record & RU (Total Optional) Record were updated to add BOX 12 code II Income from Exclusion Of Medicaid Waiver Payments (IEMWP-II).

RO (EMPLOYEE OPTIONAL) RECORD POSITION	FIELD NAME	LENGTH	FIELD SPECIFICATIONS
144-154	Income from Exclusion of Medicaid Waiver Payments (Code II)	11	No negative amounts. Right justify and zero fill. This field is valid from 2024 through the current tax year.

 

RU (TOTAL OPTIONAL) RECORD POSITION	FIELD NAME	LENGTH	FIELD SPECIFICATIONS
190-204	Income from Exclusion of Medicaid Waiver Payments (Code II)	15	Enter the total for all RO (Employee Optional) Records reported since the last RE (Employer) Record. Right justify and zero fill. This field is valid from 2024 through the current tax year.

 

• The RCO (Employee Optional) Record & RCU (Total Optional) Record were updated to add BOX 12 code II Income from Exclusion Of Medicaid Waiver Payments (IEMWP-II).

RCO (EMPLOYEE OPTIONAL) RECORD POSITION	FIELD NAME	LENGTH	FIELD SPECIFICATIONS
277-287	Originally Reported Income from Exclusion of Medicaid Waiver Payments (Code II)	11	Enter the incorrectly reported data. No negative amounts. If not making a correction, fill with blanks.
288-298	Correct Income from Exclusion of Medicaid Waiver Payments (Code II)	11	No negative amounts. If not making a correction, fill with blanks. This field is valid from 2024 through the current tax

 

RCU (TOTAL OPTIONAL) RECORD POSITION	FIELD NAME	LENGTH	FIELD SPECIFICATIONS
371-385	Total Originally Reported Income from Exclusion Of Medicaid Waiver Payments (Code II)	15	Enter the total for all RCO (Employee Optional) Records reported since the last RCE (Employer) Record. If not making a correction, fill with blanks. No negative amounts.
386-400	Total Correct Income from Exclusion Of Medicaid Waiver Payments (Code II)	15	Enter the total for all RCO (Employee Optional) Records reported since the last RCE (Employer) Record. If not making a correction, fill with blanks. No negative amounts. This field is valid from 2024 through the current tax year.

 

For more information, see the Specifications for Filing Forms W-2 Electronically:  https://www.ssa.gov/employer/efw/24efw2.pdf, or see the Specifications for Filing Forms W-2c Electronically: https://www.ssa.gov/employer/efw/24efw2c.pdf

 

2025 Social Security Wage Base Update

The update for the Social Security Wage Base is the Old-Age, Survivors, and Disability Insurance taxable wage increased from $168,600 to $176,100.

For more information, see the Social Security Fact Sheet: https://www.ssa.gov/news/press/factsheets/colafacts2025.pdf

 

Defect 2278924: This issue applied for projects with invoice approvals turned on. After a draft invoice was submitted and approved, if you changed the percent complete in Billing Terms, Interactive Billing, or Draft Invoice Approvals, the change was not reflected on the printed invoice.

Defect 2312657: When you loaded projects, AssignNewNumberScheduleDate appeared twice. This occurred even if Pre-Award Numbering is disabled. 

Defect 2312658: When you loaded projects, Meta=Access was retrieved twice, which doubed the work for the same data.

Defect 2312660: Performance issues were experienced with the database server for roles with record level access restriction set for the Projects hub.

Defect 2312661: When you created a new project using a project template, the project creation process took a long time to complete.

Defect 2312673: You encountered performance issues when you accessed a large number of employee or contact custom fields. This occurred for customers with a large number of employee or contact custom fields. 

Defect 2315566: When you worked on In Use projects, the options to add phases or tasks from the form's Other Actions were disabled.

Defect 2312640: When you turned on the Only Include Needed Columns in Query feature, the Percent Complete Reported Bill, Won/Lost Date, Proposal Manager, and Supervisor columns in the Project Earnings report were blank.

Defect 2312642: When you tried to run the Project Earnings Report with Scope set to Companywide and Method set to Prorata in Settings » Accounting » Overhead Allocation, and the Performance Improvements: Project Earnings Report - Only Include Needed Columns in Query opt-in feature was enabled in Settings » General » Opt-In Feature, the report failed to run.

Defect 2312643: When you tried to generate a Project Earning report using a large database with a lot of planning data, you received this error message: "Connection failure, timeout or low disk condition within database (rsReportServerDatabaseError)."

Defect 2312646: A performance issue occurred when you generated the Project Earnings report if:

• You enabled Performance Improvements: Project Earnings Report - Only Include Needed Columns in Query in Settings » General » Opt-In Features.

• On the Options tab of the report settings, you specified the following:

• In the Activity Basis section, you cleared all options under Report Records with Activity in the Following Area.

• In the Budget Details section, you set the Budget Source option to Project Planning Budget.

Defect 2312647: You encountered performance issues when you loaded the Project Earnings report, particularly with smaller reports.

Defect 2312656: When you generated a report including only User Defined (UD) Currency or UD Numeric with decimal fields as columns and the following settings/options are enabled, an error occurred.

• Improved Performance with Project Earnings Report when Filtering by Activity basis opt-in feature

• At Lowest Level Only (System will automatically Update Higher Levels) option in Settings > Project > Contract Management.

• Include in Report Total option in Screen Designer for the UD Currency or UD Numeric fields in Projects.

Defect 2359773: The Project Audit Detail report had unchanged drop-down values when the audit trail's custom drop-down query was generated and that query did not have a drop-down specified for the audit. As a result, a row was added for each drop-down that matched the code value being audited.

Defect 2186937: This issue occurred when you entered blanket type purchase orders, and you had the Modify Not to Exceed Values via Change Order checkbox selected on the General tab in Settings » Purchasing & Inventory » Company in the desktop application. On the General tab of the Purchase Orders form, when you entered multiple change orders to change a purchase order’s original not-to-exceed amount, Vantagepoint incorrectly recalculated the not-to-exceed amount that is used for the subsequent releases of the purchase order. It should have added the not-to-exceed amounts from all the change orders to the original not-to-exceed amount. Instead, it incorrectly added only the not-to-exceed amount from the last change order to the original not-to-exceed amount.

Defect 2312645: When you selected the saved report with another user's selected option, the select option could not be found because it was for a different user.

This occurred because when you saved a report to the SavedReportsMain table, it incorrectly filled out the "SavedSelectionsMainKey" field with an option selected by another user.

Defect 2267725: After you made a change to labor data on the Labor tab in Hubs » Projects » Plan for an existing project or a new overhead project and then you ran an incremental data refresh in Settings » General » Analysis Cubes, the data refresh failed. In Utilities » Process Server » Queue Manager, you could see the failed refresh jobs by selecting RefreshQueue in the Queue field.

Defect 2295914: Some process server jobs took a significantly longer time to finish.