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Avoid Penalties and Fines—Learn How to Process Employee Payroll Checks Correctly

Duration: 90 minutes

Speaker: Pamela Shull

 

Bonus for Each Registrant:The webinar speaker will answer one written question that you may submit by email within one week after the webinar.

 

Webinar Description

Employers and payroll professionals are entrusted with our employees’ payroll funds.  You need to be aware of problem areas in the processing of payroll that, if done incorrectly, can lead to penalties and fines – especially in dealing with employees’ taxable and nontaxable compensation.  These processing errors lead to mistakes on returns and remittances to the federal and state governments.  Employers can be penalized for both under-withholding and over-withholding.  Employers are deemed to hold payroll amounts for the benefit of our employees.  You have an obligation to withhold properly on your employees’ payroll checks and remit withholding amounts in a timely fashion.  Common mistakes include characterizing a nontaxable benefit as a taxable benefit (certain employee expense reimbursements) and making mathematical and clerical errors on Forms 941and W2.  Employers can be held liable for instances of failure to deliver an employee’s regular or final paycheck.  You also need to know when it is illegal to subtract items from your employees’ checks (e.g. for broken or lost tools or shortages in a cash drawer).  Join experienced payroll consultant Pamela Shull as she teaches you how to process your payroll efficiently and legally.

 

Agenda

• The 4 methods of federal tax withholding and when to use each one

  • Wage bracket method

  • Percentage method

  • Aggregate method

  • Cumulative method

• The rules on taxation of bonuses

• Explaining to employees how taxes are calculated for supplemental wages

• Difference between regular wages and supplemental wages

• Proper processing of State and local taxes withholdings

• What to do when an employee works in one jurisdiction and is paid from another jurisdiction – which one gets the tax?

• Reciprocal tax agreements between multiple states

• How to perform a gross-up calculation and when to use it

• Know your payroll system and how it processes tax withholding on the employee

• Communicating proper tax withholding to your payroll service

• Who is liable if the withholding is calculated incorrectly

• How to  identify an invalid W-4 from your employee

• How to tax a non-resident alien worker properly

• Penalties for improper taxation and invalid W-4’s

• When to get a new W-4 from an employee

• How to impute taxes on gift cards and tangible property awards

• What is a “qualified plan” according to IRS for non-taxable fringe benefits

• How to correct if you over or under withhold employee’s taxes

 

 

CONTINUING EDUCATION

Continuing HRCI Credit Information

This program has been pre-approved for 1.5 hours of General recertification credit hours through the HR Certification Institute. Use of the seal is not an endorsement by the HR Certification Institute of the quality of the program. It means that this program has met the HR Certification Institute's criteria to be pre-approved for recertification credit.

 

Continuing Legal Education Credit Information

This webinar has been approved in the following states for continuing legal education credit by  The Marino Legal Academy:

California: 1.5 credit hours

The Marino Institute for Continuing Legal Education is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 credit hours of participatory CLE credit.

New Jersey: 1.5 credit hours

This webinar has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.5 CLE credit hours.

New York: 1.5 areas of professional practice credit hours

This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for veteran attorneys for 1.5 credit hours, of which 1.50 credit hours may be applied toward the Areas of Professional Practice.

Pennsylvania: 1.5 credit hours

This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.

 

To receive CLE credit for this webinar in those states, please request such credit by writing toinfo@parkavenuepresentations.com.  Your request will be forwarded to The Marino Legal Academy for processing.

 

CLE credit for this webinar may also be awarded in a number of other jurisdictions. For more information, please contact a Marino Legal Academy legal education consultant at (212) 249-3779,x104.

 

Logistics

• 90 minutes (Travel Free) delivered over the Internet.
  Unlimited listeners per connection - bring the entire department.
  Q&A session with the expert.
  Special Feature: If you register for this webinar and cannot attend, you will be able to access a one-time instant replay without charge for up to 90 days after the date of the webinar.

This event will be presented live with a PowerPoint presentation to be viewed on your computer. You may listen to the audio of the webinar by telephone or through your computer. The PowerPoint slides will be provided shortly before the event. Once you register, you will receive an email which is your receipt and which includes your instructions for dialing in and logging on. You will also receive an email reminder 24 hours before the webinar.