Prepare to Comply with the Various Federal and State Laws of the U.S. Payroll System
The U.S. payroll system is complex and navigating the rules can be a tough task for payroll professionals. It requires a good understanding of various federal and state laws and a constant awareness of the changing and evolving regulations.
Payroll preparation is a time-consuming and tedious process prone to human error. Complying with wage and hour laws, travel pay, child support garnishments, handling overpayments and other issues is a constant source of headache for the payroll department. Things are even more difficult if you're a multistate employer.
Join this Payroll Virtual Boot Camp, where payroll specialist Vicki M. Lambert, CPP will help you get a clear understanding of complex payroll rules and regulations in four major areas and provide you with practical steps and actionable plans to achieve compliance.
Session-1: Wage and Hour Compliance: It's More than Just Calculating Overtime
Time: 11 am EST – 12:30 pm EST | Duration: 90 minutes
This session will cover:
- Federal minimum wage
- State minimum wage
- Tip credits
- Youth minimum wage (training wage)
- Board and lodging credits
- Legal work week and work day: Definition
- How and when to pay for travel time?
- What is considered hours worked and how do they affect overtime?
- Is it covered under the Fair Labor Standards Act (FLSA) or do I need to check the state?
- What to do when the FLSA and the state law differ?
- How to handle the FLSA and union contracts?
- What is regular rate of pay?
- How is overtime calculated under the FLSA?
- How to post requirements?
- Meal and rest periods
- State requirements
- Statements and payday notices
- Frequency of wage payments
- Method of payment
- How to pay terminated employees?
- How to pay out accrued vacation?
Q/A + Break: 15 minutes
Time: 12:45 pm EST – 2:45 pm EST | Duration: 120 minutes
Part 1 - Best Practices to Handle Multistate Employees
- How to determine state withholding liability?
- Who is a resident?
- How reciprocal agreements affect taxation of wages?
- Resident and non-resident taxation policies
- The four-factor test for state unemployment insurance
- Supplemental withholding rates
- How to withhold requirements when an employee is in a state temporarily?
- Which states require the use of their own Withholding Allowance Certificate, which states allow either theirs or the Form W-4, and which states don't have a form?
- How to report wages for multistate employees on Form W-2?
Part 2 - Child Support Garnishments
- Child support garnishments: Definition
- The federal requirements a payroll department must know for child support
- Effect of state requirements on child support
- Specific requirements for child support, including deduction limits, deadlines, filing procedures, administrative fees, and penalties/fines for violations
- How to handle terminated employees with regard to child support?
- Best practices to communicate with employees and issuing parties
- How to choose a garnishment when an employee has current support orders, medical support orders, and arrearages
- Examples of calculating the withholding, and prioritizing the order of distribution when an employee has more than one type of garnishment
- How to process medical support notices properly?
Q/A & Break : 15 minutes
Time: 3 pm EST – 4:30 pm EST | Duration: 90 minutes
Part 1 - Tax Levies and Creditor Garnishments
- Types of tax levies and creditor garnishments: Definition
- The federal requirements a payroll department must know on each type of garnishment
- Effect of state requirements on garnishments
- How to handle terminated employees regarding garnishments?
- How to determine the withholding under a federal tax levy?
- How to deduct the proper amounts for student loans and creditor garnishments?
- The rules to be followed when it comes to state tax levies
- How to calculate the withholding and prioritizing the order of distribution when an employee has more than one type of garnishment?
- What to do with "payday loans" or what are known as voluntary wage assignments for creditors?
Part 2 - Handling Overpayments Correctly
- How to handle overpayments under the Internal Revenue Service (IRS) and State Tax Codes:
- Why a 1990 IRS private letter ruling on handling overpayments applies today?
- How to correct overpayments in the same calendar tax year?
- How to correct Federal Insurance Contributions Act (FICA) taxes for a prior year overpayment?
- How to correct Federal Unemployment Tax Act (FUTA)/State Unemployment Insurance (SUI) taxes?
- How to use Form W-2 or Form W-2C to report overpayments?
- Wage and hour laws and their impact on recouping overpayments:
- The standards under the FLSA in terms of timeframe for recouping prior year overpayments
- Whether a written agreement for repayment is always required under the FLSA?
- How to collect overpayments from exempt employees and its effect on salary basis compliance
- How to recoup overpayments and its effect on minimum wage and overtime requirements?
- Can employers treat advanced vacation payments as overpayments if an employee terminates?
- Where do the states stand on recouping overpayments?
Who Will Benefit
- Payroll Professionals
- Human Resources Professionals
- Business Owners
- Legal Professionals
- Anyone responsible for the compliance issues of a payroll department
- Certified Public Accountants (CPAs)
- Enrolled Agents (EAs)
- Other Tax Preparers
- Finance and Accounting Professionals
- Personnel in Accounting and Taxation Firms
- Personnel in law firms dealing with tax issues
- Small Business Owners
- Financial Planners