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Employees can be overpaid in even the most well managed payroll department. Yes, it does happen when mistakes are made but it isn’t always the result of an error. Perhaps the employee received a sign on bonus but did not stay for the required length of time. Or the employee was advanced vacation but is now terminating before he or she has fully earned the time. No matter the reason, overpayments can and do happen and must be handled properly. The first questions that usually arise relate to IRS regulations. What is required if the overpayment occurred this year? But what if it occurred in a previous tax year, does that change the rules? Are the rules different for federal income tax than they are for social security or Medicare taxes?
Recouping overpayments is also much more complex than just adhering to IRS code! Wage and hour law compliance must also be honored when dealing with overpayments. Before the payroll department even needs to determine IRS requirements they must first determine if recouping the over payment is even legal under the FLSA. Issues such as exempt employee status, minimum wage and overtime rules for nonexempt employees must be considered when recovering overpayments from employees.
And of course, the overpayment did not occur in a vacuum when it comes to state laws. Each individual state may have their own compliance issues involving wage and hour laws! Is there a time limit for recouping the overpayment in that state? Does the employee have to be notified in advance before the deductions can begin? Or does the state just say NO! to the whole process?
Webinar Objectives
Webinar Highlights
Handling Overpayments under IRS and State Tax Codes:
Wage and Hour Laws and Their Impact on Recouping Overpayments:
Who Should Attend
Date | Conferences | Duration | Price | |
---|---|---|---|---|
Jun 01, 2022 | Payroll Deductions in 2022: What Can and Cannot be Deducted from an Employee’s Wages | 90 Mins | $199.00 | |
Apr 06, 2022 | Payroll Overpayments: Handling them Correctly in 2022 | 90 Mins | $199.00 | |
Feb 10, 2022 | Employee Working from Anywhere…Compliance Issues That Must Be Resolved | 90 Mins | $199.00 | |
Dec 08, 2021 | Preparing for Year End 2021 and Year Beginning 2022 | 90 Mins | $199.00 | |
Oct 14, 2021 | Are You Ready to Handle Unclaimed or Abandoned Wages in 2021 | 90 Mins | $199.00 | |
Oct 01, 2021 | Payroll Boot Camp 2021 | 300 Mins | $499.00 | |
Aug 12, 2021 | Payroll Deductions in 2021: What Can and Cannot be Deducted from an Employee's Wages | 90 Mins | $199.00 |