Translation:I am waiting for the New Year's holidays.
I don't understand why year is always different. In this dictionary - http://dictionary.reverso.net/english-french/New%20Year - "nouvel an" and "nouvelle annee" are both listed. I've also heard "l'an dernier"... On the other hand, the greeting is "bonne annee." Oh, well, I guess it's one of those things you just have to remember.
I think if it modifies a noun (like "du nouvel an" in this case), it should be masculine.
Why is "I am waiting for New Year's" incorrect? It told me "I am waiting for the new year's" was the correction, which I have never heard anyone say as a complete sentence.
Also region/cultural-specific, as "New Year's holidays" are not a thing in some countries. I have never heard someone from Canada, for example, call the time around New Year's a "holiday".