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2023 Tax Levies & Garnishment Compliance Updates
Credit(s)
IRS Credits: 1 Tax hour
Garnishments are a requirement of doing business and having employees but juggling the requirements of different types of garnishments and federal and state laws can be exhausting. This webinar will give you the tips and tools to know how to stay compliant and process garnishments Our expert speaker will talk about all the recent updates to Garnishment legislation due to the COVID-19 pandemic that still into 2023 causes concern about stopped student loan garnishments and when they will start again. Along with challenges and risks employers hold when not properly handling garnishments. This webinar will also review the impact to garnishments due to the recent tax reform accordingly.
Webinar Objectives
- Child Support Review
- Employer Responsibility/Employee Protections
- Priority of Withholding/Multiple Orders
- Child Support withholding requirements
- Defining Income/Calculating disposable pay
- Lump Sum Payments
- Calculating Child Support Payments
- When to remit payments
- Administrative fees
- Handling terminated employees
- E-IWO (electronic income withholding orders)
- Other Child Support Concerns
- Medical Support Orders
- Details of State Requirements
- Levy Review
- Federal Tax Levies
- Forms
- Priorities
- Calculating deductions
- Special Situations
- Remittance Requirements
- Voluntary Deductions
- Other Federal Garnishments/CARES Act
- State Tax Levies
- Requirements
- State Laws
- Federal Tax Levies
Webinar Highlights
- Better understanding the employer responsibilities
- How to properly calculate Garnishment deductions? According to the law or the order or a little bit of both?
- Review of lump sum reporting requirements and how to comply
- Proper order of garnishment priority when an employer receives multiple orders.
- How to determine which law to follow state or federal?
- Understanding the CARES act and how it affect student loan garnishments
- 2023 update to the COVID-19 delay in student loan garnishments
Who Should Attend
Payroll and Tax Professionals
Dayna J Reum
Dayna is currently the Director of Payroll Operations at a major medical center in Chicago. Dayna has been heavily involved in the payroll field over 20 years. Starting as a payroll clerk at a small Tucson company, Dayna moved on to be a Payroll Team Leader at Honeywell Inc. During Dayna’s time at Honeywell she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. She also received several merit awards for Customer Service and Acquisitions and Divestitures. Dayna is no stranger to teaching she has taught at the Metro Phoenix American Payroll Association meetings and at the Arizona State Payroll Conference. Topics including Payroll Basics,...
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