As much as payroll professionals complete audits and validations each payroll, unfortunately mistakes happen and employees get overpaid.Once an employee has been overpaid getting the money back is only one challenge, payroll professionals are faced with how to untangle the tax and compliance requirements when getting money back from employees.
This webinar will give participants the tools to analyze all types of employee overpayments and how the handle proper taxation, and meeting federal and state laws that affect how overpayments are properly handled.Laws in the deduction of pay from employees have changed in several states within the last couple of years; this webinar will give you the skills to properly handle these new laws.
- Type of Overpayments
- Regular pay/Bonuses
- Non-cash overpayments
- Tax Considerations
- Overpayments in the current year
- Overpayments in a prior year
- Year end Reporting
- Federal & State Law
- Minimum Wage
- State Laws
- Methods of Repayment
- Review of different types of overpayments from regular pay to non-cash items such as laptops given to employees.
- Discuss employee loans and advances and how to handle them
- Discuss the tax implications of overpayments made in current year and those made in a prior tax year.
- Special year end reporting concerns for employees that have been overpaid.
- What are the best methods of repayment
- What special state and federal laws should be considered when collecting overpayments
- Understanding the impact of overpayments may be different for hourly employees versus salaried employees.
- Review the IRS “claim of right rule” and how it changed since tax reform
Who will Benefit
- Payroll Professionals
- Tax Professionals
- Accounting Professionals
This activity has been approved for 1 HR (General) recertification credit hours toward aPHR, PHR, PHRca, SPHR, GPHR, PHRi and SPHRi recertification through HR Certification Institute (HRCI). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org
This program is valid for 1 PDCs for the SHRM-CP® or SHRM-SCP
Dayna is currently the Director of Payroll Operations at Ann & Robert Lurie Children’s Hospital of 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, Global/Cultural Awareness, Immigration Basics for the Payroll Professional, Multi-State and Local Taxation and Quality Control for Payroll, International and Canadian payroll. Dayna has her CPP (Certified Payroll Professional) through the APA. She also serves on the National American Payroll Association on the National Strategic Leadership Task Force, Government Affairs Task Force (PA Local tax subcommittee). Dayna has received a Citation of Merit for her service along with being a Gold Pin member of the APA. Besides her payroll accomplishments Dayna is certified in HR hiring and firing practices and is a Six-Sigma Greenbelt