Handling Special Payroll Situations

On Demand Webinar

Webinar Details $219

  • Rated:
  • Webinar Length: 60 Minutes
  • Guest Speaker:   Dayna Reum
  • Topic:   Taxation and Accounting, Payroll
  • Credit:   HRCI 1.0, SHRM 1.0, ATAPR 1.0, ATAHR 1.0, ATATX 1.0
All Access Membership

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, employee’s get overpaid, they end employment with our companies for all kinds of different reasons and we need to be prepared to handle these situations and how to properly handle 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 Objective:

  • 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 recouping overpaid dollars and non cash items    
  • What special state and federal laws should be considered 

Level: Intermediate
Format: Live webcast
Instructional Method: Group: Internet-based
NASBA Field of Study: Accounting 
Program Prerequisites: None
Advance Preparation: None

  1. Introduction
  2. Agenda 00:01:32
  3. Deceased Employee Payments 00:04:15
  4. State Law Requirements 00:12:31
  5. State Death Payment Requirements 00:15:39
  6. State Death Payment Requirements Cont’d 00:16:51
  7. State Death Payment Requirements Cont’d 00:17:21
  8. PaymentMade But Not Cashed 00:18:05
  9. Taxation Concerns 00:20:44
  10. Taxation Concerns Cont’d 00:21:10
  11. Best Practices 00:24:54
  12. Disaster Plan Overview and What We Learned From COVID-19 00:27:07
  13. Disaster Recovery -  Choosing Critical Tasks 00:31:37
  14. What Should A Good Plan Include? 00:35:01
  15. What Should A Good Plan Include? Cont’d 00:38:14
  16. How To Set Responsibilities? 00:41:52
  17. Validating The Plan 00:43:32
  18. Keeping The Plan Up To Date 00:44:27
  19. Plan Maintenance 00:45:21
  20. Overpayments Overview 00:45:36
  21. Types of Overpayments - Regular Pay/Bonuses 00:48:36
  22. Types of Overpayments - Advances/Loans 00:48:57
  23. Types of Overpayments - Loans 00:49:49
  24. Types of Overpayments - Non-Cash Overpayments 00:49:54
  25. Types of Overpayments - Relocation/Tuition Assistance/Business Expenses 00:50:34
  26. Tax Considerations - Overpayments In The Current Year 00:50:38
  27. Tax Considerations - Overpayments In The Prior Year 00:51:01
  28. Tax Considerations - Year-End Reporting 00:51:49
  29. Federal & State Law - Minimum Wage 00:52:48
  30. Federal & State Law - State Laws 00:53:13
  31. Federal & State Law - Methods of Repayment 00:53:20
  32. Inclement Weather Pay State & Federal Law 00:53:59
  33. Inclement Weather Pay - Time Reporting 00:54:48
  34. Inclement Weather Pay - Timing of Payment 00:55:22
  35. Requiring PTO Balances To Be Used (Vacation, Sick, etc) 00:55:45
  36. Tax Deposits 00:55:59
  37. Attendee Questions 00:56:25
  38. Presentation Closing 01:00:54
  • Federal Insurance Contributions Act (FICA) 00:20:56
  • Federal Unemployment Tax Act (FUTA) 00:20:57
  • Form 1099 MISC 00:21:44
  • Form 941 00:50:50
  • Form 941-X00:50:55
  • Form W-2 00:21:26, 00:52:01
  • Form W-2C 00:51:29
  • TIN 00:22:31
  • Vendor 00:39:36

Federal Insurance Contributions Act (FICA): The Federal Insurance Contributions Act is a United States federal payroll contribution directed towards both employees and employers to fund Social Security and Medicare—federal programs that provide benefits for retirees, people with disabilities, and children of deceased workers.

Federal Unemployment Tax Act (FUTA): The Federal Unemployment Tax Act (FUTA) is a federal law that imposes an unemployment tax on employers. The FUTA tax funds the federal government's oversight of each state's unemployment program. Only employers pay FUTA tax. You must deposit the tax quarterly and file an annual form.

Form 1099-MISC: The Form 1099-MISC is an Internal Revenue Service (IRS) tax return document used to report miscellaneous payments made to nonemployee individuals, such as independent contractors, during the calendar year. (www.shrm.org)

Form 941: Federal form 941, also called a quarterly federal tax return, is an IRS return that employers use to report their FICA taxes paid and owed for the period. The IRS uses this form to calculate the amount of employer tax payments made during the year as well as the amount of taxes due at the end of the year.

Form 941-X: Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund.

Form W-2: Form W-2 is an Internal Revenue Service tax form used in the United States to report wages paid to employees and the taxes withheld from them. Employers must complete a Form W-2 for each employee to whom they pay a salary, wage, or other compensation as part of the employment relationship. - Wikipedia (https://en.wikipedia.org/)

Form W-2C: W-2C is a form used to make corrections on previously issued wage/tax information (W-2s) from current or prior years. Like Form W-2, it is a multi-use form used to report corrected wages to the IRS (Internal Revenue Service), FTB (Franchise Tax Board), and SSA (Social Security Administration).

TIN: A Taxpayer Identification Number is an identifying number used for tax purposes in the United States and in other countries under the Common Reporting Standard. In the United States, it is also known as a Tax Identification Number or Federal Taxpayer Identification Number.

Vendor: A vendor is a person or business that supplies goods or services to a company. Another term for the vendor is the supplier. In many situations, a company presents the vendor with a purchase order stating the goods or services needed, the price, delivery date, and other terms.

Guest Speaker

  • Dayna J. Reum

HRCI Credit

Human Resource Certification Institute
This program has been approved for credit hours through the HR Certification Institute. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.

SHRM Credit

Society for Human Resource Management
Aurora Training Advantage is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.

ATAPR Credit

Aurora Training Advantage is offering continuing education points designed to recognize dedication to training and excellence in payroll.

ATAHR Credit

Aurora Training Advantage is offering continuing education points designed to recognize dedication to training and excellence in human resources.

ATATX Credit

Aurora Training Advantage is offering continuing education points designed to recognize dedication to training and excellence in accounting.