As much as payroll professionals we like to think our job is about producing a paycheck each pay period and making sure employees have accurate pay each pay period. But it is not always that easy, employees get overpaid, and they end employment with our companies for kinds of different reasons and we need to be prepared to handle these situations and how to properly handle them according to state and federal laws. This webinar will give participants a better understanding of laws that affect how we handle all kinds of pay situations. Review of employee terminations and final pay requirements will be discussed in detail from the federal and state level. All types of terminations from death to voluntary terminations will be discussed so you will have a better understanding of payment timing, methods, and taxation. Overpayments and laws around taxation and recouping funds from both active and terminated employees will be discussed in detail

Learning Objectives:-

• Review of different types of special pay situations to include: payroll overpayments deceased employee pay, termination pay
• Discuss employee loans and advances and how to handle them
• Discuss the tax implications of overpayments, deceased employee pay, and terminations
• Special year-end reporting concerns.
• Final pay concerns for terminated employees from severance to legal settlements
• Determine who to pay final payments to deceased employees
• What are the best methods for recouping overpaid dollars and noncash items
• What special state and federal laws should be considered

Session Highlights:-

• Death
• Disaster Recovery
• Choosing critical payroll tasks and what we learned from COVID-19
• How to evaluate?
• What should a good disaster plan include
• How to set responsibilities
• Validating the plan
• Keeping the plan up to date
• Plan Maintenance
• How to end the plan?
• Overpayments
• Incremental Weather

Who Should Attend:-

• Payroll and Tax Professionals