Payroll Best Practices: Proper Handling of Tax Levies and Creditor Garnishments
Tuesday, February 11, 2014 from 10:00 AM to 11:30 AM (PST)
This HR regulatory training will teach attendees payroll best practices for proper handling of tax levies and creditor garnishments to ensure compliance with federal and state requirements.
Why Should You Attend:
Tax levies and creditor garnishments can be some of the most complex tasks required of any payroll department. If garnishments are not handled correctly, you may find yourself facing situations that become extremely costly both financially and emotionally. Courts, federal and state regulations, bureaucracies, lawyers and a multitude of other factors can complicate even the most basic procedures. Add in the emotional turmoil that often accompanies garnishment orders and even small errors can become major disasters.
The reality is that all of the people and entities involved in these situations expect action from the payroll department. And it is up to the payroll department to catch and correct any errors that have been made by anyone along the way. Precise and accurate compliance with garnishment regulation can help to reduce or eliminate the emotional and financial toll that can result from these unfortunate situations.
This webinar concentrates on processing garnishments in the payroll department other than child support. It will cover:
- Federal rules for creditor garnishments
- IRS rules for federal tax levies
- Various aspects of state tax levies
- Key points for processing state creditor garnishments
- How to handle voluntary wage assignments such as payday loans and student loans
This webinar will provide best practices for reconciling and processing the garnishments in the payroll department. It will also include sample memos for communicating with the employee concerning garnishments. Step by step math calculations will be reviewed for tax levies and creditor garnishments. It will also review IRS Form 668-W.
Areas Covered in the Webinar:
- How to define the various types of tax levies and creditor garnishments
- The federal requirements a payroll department must know on each type of garnishment
- How state requirements affect garnishments
- How to handle terminated employees in regard to garnishments
- How to determine the withholding under a federal tax levy
- Deducting the proper amounts for student loans and creditor garnishments
- What rules are followed when it comes to state tax levies—and it may not be the CCPA
- Best practices for communicating with employees and issuing parties
- How to calculate the withholding and prioritize the order of distribution when an employee has more than one type of garnishment
- What to do with “payday loans” or what are known as voluntary wage assignments for creditors
- Best practices for processing garnishments in the payroll department
Who will Benefit:
- Payroll Professionals
- Human Resources
- Accounting Personnel
- Business Owners
- Attorneys, or any individual or entity that must deal with the complexities and technicalities of processing federal and state tax levies as well as creditor garnishments
Vicki M. Lambert, CPP is President and Academic Director of The Payroll Advisor™ a firm specializing in the training of payroll professionals. With over three decades of hands-on experience in all facets of payroll functions as well as over 20 years as a trainer and author, Ms. Lambert is a sought-after and respected voice in the practice and management of payroll issues. She has conducted open market training seminars on payroll issues across the United States as well as serving as an in-house trainer for businesses such as Sun Microsystems, Fox Studios, Disney, County of Riverside and the City of Hesperia.
Ms. Lambert currently produces and presents payroll related audio seminars, webinars and webcasts for clients, APA chapters and business groups throughout the country. She is an adjunct faculty member at Brandman University in Southern California and is the creator and instructor for their Practical Payroll Online program, which is approved for recertification hours by the APA.
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