Tax levies and creditor garnishments can be some of the most complex tasks required of any payroll department. If garnishments are not handled precisely, you may have to face heavy fines for non-compliance. Courts, federal and state regulations, bureaucracies, lawyers and a multitude of other factors can complicate even the most basic procedures.
Why Should You Attend:
This webinar will concentrate on processing garnishments other than child support in the payroll department. 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
- Best practices for reconciling and processing the garnishments in the payroll department
- Sample memos for communicating with employees concerning garnishments will be presented as well. The instructor will take attendees through a step-by-step math calculation for tax levies and creditor garnishments. Further, the IRS Form 668-W will be reviewed.
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 about 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 Executives/Managers/Administrators/Professionals/Practitioners/Entry Level Personnel
- Human Resources Executives/Managers/Administrators
- Accounting Personnel
- Business Owners/Executive Officers/Operations and Departmental Managers
- Lawmakers
- Attorneys/Legal Professionals
- Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues
Course Provider
Vicki M. Lambert,
