2024 Payroll Compliance Boot Camp: Navigating Overpayments, Deductions, and Taxation

Credit(s)

IRS CPE Credits: 6 Tax hour

Session 1 | Handling Payroll Overpayments | Vicki M. Lambert | 90 Mins

Overpayments can occur in any payroll department, whether due to errors or specific circumstances like sign-on bonuses or advanced vacation time. Regardless of the reason, handling overpayments correctly is crucial to ensure compliance with IRS regulations and wage and hour laws.

This session will provide a comprehensive overview of the necessary steps and considerations for managing payroll overpayments. Key topics include understanding IRS regulations for correcting overpayments within the same tax year versus previous tax years, as well as the differences in handling federal income tax, social security, and Medicare taxes. We will discuss the importance of IRS private letter rulings and the proper use of Forms W-2 and W-2c.

Additionally, the session will cover the complexities of wage and hour law compliance under the Fair Labor Standards Act (FLSA). We will examine whether recouping overpayments is legal, the implications for exempt and non-exempt employees, and the requirements for written agreements. State laws will also be explored, highlighting variations in compliance issues, notification requirements, and time limits for recouping overpayments.

By the end of this Session, participants will have a thorough understanding of the multifaceted approach required to handle payroll overpayments effectively and in compliance with federal and state regulations.

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Session 2 | Understanding and Managing Payroll Deductions | Vicki M. Lambert | 90 Mins

Accurately deducting amounts from gross wages to arrive at the net paycheck, while adhering to federal and state regulations, is a complex task in payroll management. This session covers mandatory and permissible deductions, what can never be deducted, and how rules may change for an employee’s final paycheck. Understanding these rules is critical to avoid penalties from the IRS and potential audits by labor departments.

The session will address key issues such as mandatory taxes, voluntary benefits, child support, tax levies, creditor garnishments, and wage assignments for payday loans. Participants will also learn about deducting costs for uniforms, meals, lodging, cash shortages, and breakage, as well as recouping overpaid wages and advanced vacation pay.

By attending this session, payroll professionals will gain a comprehensive understanding of the rules governing deductions, ensuring accurate and compliant payroll processing.

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Session 3 | Navigating Payroll Garnishments | Dayna J. Reum | 60 Mins

Handling garnishments is a critical aspect of payroll management, requiring adherence to various federal and state laws. This session will equip employers with the tools and knowledge to stay compliant while processing garnishments. Attendees will learn about the challenges and risks associated with mishandling garnishments and how to navigate the complexities introduced by recent tax reforms.

The session will cover employer responsibilities and employee protections, prioritizing multiple withholding orders, child support requirements, and calculating disposable pay. It will also address lump sum payments, administrative fees, and handling terminated employees, along with the use of electronic income withholding orders (E-IWO).

In addition to child support, the session will review medical support orders, federal and state tax levies, and creditor garnishments, including priorities, calculation methods, and remittance requirements. Attendees will also explore voluntary deductions and other federal garnishments affected by the CARES Act.

By the end of this session, payroll professionals will have a comprehensive understanding of managing garnishments effectively and in compliance with all applicable regulations.

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Session 4 | Mastering Fringe Benefit Taxation | Dayna J. Reum | 60 Mins

In this session, participants will gain an in-depth understanding of fringe benefit taxation from the IRS perspective. We will explore the intricacies of the Internal Revenue Code (IRC) exceptions permitted by the IRS, providing clear and detailed explanations.

As companies increasingly offer a variety of fringe benefits to enhance employee morale and reduce costs, navigating IRS regulations becomes crucial. The IRS has established specific guidelines for determining the taxability of fringe benefits. Understanding these regulations is essential, as items that appear non-taxable can become taxable depending on how and when they are provided.

By the end of the session, participants will be equipped to identify and calculate the fair market value (FMV) of fringe benefits for taxation purposes. This knowledge will empower them to navigate the complex landscape of IRS regulations, ensuring compliance and informed decision-making.

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Session 5 | Navigating Form I-9 Updates and Compliance | | Dayna J. Reum | 60 Mins

Join us for a comprehensive session presented by Dayna J. Reum, CPP, as we delve into the recent updates to the Form I-9, effective August 1, 2023. This session will provide a detailed review of the changes and how employers can navigate them.

Dayna will also explore electronic options for the Form I-9, offering insights into various electronic solutions and how your company can transition to a more digital process. With the current administration's increased focus on I-9 compliance, it's crucial to be prepared for an audit. This session will equip you with the knowledge needed to understand and effectively complete the new Supplement A & B forms.

Don't miss this opportunity to ensure your organization is up-to-date and compliant with the latest Form I-9 regulations. Register now to secure your spot!

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Session 6 | Navigating Payroll Tax Compliance for Non-Resident Aliens | Debbie Cash | 60 Mins

Join Debbie Cash, CPP, for a 90-minute session that addresses the complexities of payroll tax compliance for non-resident aliens on F-1, J-1, or H-1B visas. Employers often face challenges understanding that F-1 and J-1 visa holders are exempt from certain payroll taxes. Mistakes in tax withholding for these employees can lead to significant issues.

This session will help employers identify different visa types and understand the tax implications. Tax treaties play a crucial role, offering potential tax exemptions and savings when the correct forms are completed. Debbie will guide employers on how to properly treat employees under various visa statuses, detailing the forms needed for tax treaty exemptions and year-end filings. The session will also cover handling situations where no tax treaty exists with an employee's home country.

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Webinar Objectives

In this comprehensive bootcamp session, our expert speakers will cover an array of essential payroll and tax compliance topics. Attendees will gain a thorough understanding of the regulations and requirements related to wage deductions, fringe benefits, and employment verification processes. Key objectives include:

• Understanding Wage Deductions: Explore the complex rules and regulations governing deductions from employee wages, including mandatory taxes and voluntary deductions such as health insurance, uniforms, and meals. Learn the legality of these deductions and the process for handling overpayments and garnishments, ensuring compliance with both federal and state laws.
• Fringe Benefits Compliance: Delve into the IRS rules for taxation of fringe benefits, how to calculate their value, and procedures for recording them. Understand the impact of the Tax Cuts and Jobs Act on fringe benefits and year-end best practices for their taxation.
• Employment Verification and Form I-9 Compliance: Review the recent updates to Form I-9, including requirements for individuals on temporary work visas, and learn how to avoid common mistakes in the I-9 process. Understand the remote verification requirements post-COVID-19 and how to handle audits and electronic I-9 requirements.
• Handling Advanced Vacation Hours and Loans: Learn the rules and considerations for recouping advanced vacation hours and managing loans or advances on wages, both for current employees and those who terminate.
• Priority and Compliance in Garnishments: Review the proper order of garnishment priority when multiple orders are received, and understand how to calculate garnishment deductions according to laws and orders.
• Taxation of Non-Cash Fringe Benefits: Gain insights into the IRS rules for taxing non-cash fringe benefits, review excludable fringe benefits, and understand the procedures for their recording and taxation.
• Employer Responsibilities and Anti-Discrimination: Review employer responsibilities, anti-discrimination laws, and how to protect against document abuse and discrimination in the I-9 process.
• Compliance with Tax Treaties and Employee Taxation: Understand the tax exemptions and withholding requirements for employees under various visas, guidance on tax treaties, and end-of-year filing requirements.
• State-Specific Wage and Hour Laws: Examine the wage and hour laws across several states, focusing on overpayment recoupment and compliance with state-specific requirements.

This session aims to equip payroll professionals with the knowledge and tools needed to navigate the complexities of payroll processing and compliance, ensuring adherence to all relevant regulations and best practices.

Who Should Attend

• Payroll Executives/Managers/Administrators/Professionals/Practitioners/Entry Level Personnel
• Human Resources Executives/Managers/Administrators
• Accounting Personnel
• Business Owners/Executive Officers/Operations and Departmental Managers
• Lawmakers
• Attorneys/Legal Professionals
• Bookkeepers
• Managers
• Tax Professionals
• Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues