Handling Payroll Overpayments
Instructor:
Dayna Reum
Product ID: 706672
Training Level: Basic to Advance
- Duration: 60 Min
Why Should You Attend:
As much as payroll professionals complete audits and validations each payroll, unfortunately mistakes happen and employees get overpaid. Once an employee has been overpaid getting the money back is only one challenge, payroll professionals are faced with how to untangle the tax and compliance requirements when getting money back from employees.
- 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 overpayments 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.
- 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
- Payroll and HR Professionals
Dayna Reum
Director of Payroll Operations, Ann & Robert H. Lurie Children's Hospital
Dayna is currently the Director of Payroll Operations at Ann & Robert Lurie Children’s Hospital of Chicago. Dayna has been heavily involved in the payroll field over 17 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 teaching she has taught at the Metro Phoenix American Payroll Association meetings and at the Arizona State Payroll Conference. Topics including Payroll Basics, Global/Cultural Awareness, Immigration Basics for the Payroll Professional, Multi-State and Local Taxation and Quality Control for Payroll, International and Canadian payroll. Dayna has her CPP (Certified Payroll Professional) through the APA. She also serves on the National American Payroll Association on the National Strategic Leadership Task Force, Government Affairs Task Force (PA Local tax subcommittee). Dayna has received a Citation of Merit for her service along with being a Gold Pin member of the APA. Besides her payroll accomplishments Dayna is certified in HR hiring and firing practices and is a Six-Sigma Greenbelt.
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