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.

Agenda:

• 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
• Loans/Advances
• 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