The Social Security Administration (SSA) recently released the 2024 versions of the EFW2 (Specifications for Filing Forms W-2 Electronically) and EFW2C (Specifications for Filing Forms W-2c Electronically). Most notably, both specifications include new fields for reporting Medicaid waiver payments that are excluded from gross income. These payments are reported in Box 12 under Code II on the paper W-2.
There were also increases to the Social Security Wage Base, maximum Social Security withholding per employee and minimum household covered wages. The Social Security Wage Base increased to $168,600. The maximum Social Security withholding per employee increased to $10,453.20. The minimum household covered wages increased to $2,700.
Finally, the social security wage reporting contact for 10 locations has changed to 212-264-3455. Employers from the following location should use the updated number: Delaware, DC, Maryland, New Jersey, New York, Pennsylvania, Puerto Rico, Virgin Islands, Virginia and West Virginia.
