Handling Payroll Overpayments
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.
- 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 payments 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.
- Will review the IRS “claim of right rule”
Type of Overpayments
- Regular pay/Bonuses
- Non-cash overpayments
- Overpayments in the current year
- Overpayments in a prior year
- Year end Reporting
Federal & State Law
- Minimum Wage
- State Laws
- Methods of Repayment
Dayna is currently the Payroll Tax Manager at PetSmart Inc. Dayna has been heavily involved in the payroll field over 15 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 teach... View Full Profile