2024 legal and banking holidays: Planning now for what’s ahead

Confirming when federal legal and banking holidays will occur in 2024 can help you avoid surprises on paydays, tax deposit due dates and reporting deadlines.

Of course, state and local dates are key, too.

Finally, adding employer-provided paid holidays into your planning is also important to ensuring you have the personnel coverage you need to meet deadlines in the Payroll department and beyond.

Holidays to double-check

On the federal level, there are 12 dates to mark on your calendar for 2024.

The following list includes legal holidays (L), which are based on the draft version of IRS Publication 509, and banking holidays (B), which are drawn from the Federal Reserve’s schedules.

Here’s the list:

• Monday, January 1, 2024: New Year’s Day (LB)
• Monday, January 15, 2024: Martin Luther King Jr. Day (LB)
• Monday, February 19, 2024: Presidents’ Day (LB)
• Tuesday, April 16, 2024: District of Columbia Emancipation Day (L)
• Monday, May 27, 2024: Memorial Day (LB)
• Wednesday, June 19, 2024: Juneteenth (LB)
• Thursday, July 4, 2024: Independence Day (LB)
• Monday, September 2, 2024: Labor Day (LB)
• Monday, October 14, 2024: Columbus Day (LB)
• Monday, November 11, 2024: Veterans’ Day (LB)
• Thursday, November 28, 2024: Thanksgiving (LB)
• Wednesday, December 25, 2024: Christmas Day (LB)

Employer-provided paid holidays

Most employers offer paid holidays to employees, according to the most recent data from the Bureau of Labor Statistics (BLS).

However, the numbers vary based on the employer’s size.

Among establishments with 1-49 employees, 73% offered the benefit. That was unchanged in the next category of 50-99 employees. For employers with 100 to 499 employees, 84% offered paid holidays. A slight increase to 85% occurred when establishments hit the 500-employee mark.

An employee’s wage category is also relevant, the BLS found.

For employees in the lowest 10% of wage earners, 46% had access to paid holidays. By contrast, for employees in the highest 10% of wage earners, 86% had access to paid holidays.

Looking to maximize the flexibility of benefits you make available to employees? Consider offering your workforce floating holidays in addition to core holidays.