Wage overpayments, how to recover lost overtime money

Wage Overpayments - Prevention and Recovery

Live Webinar 

Wed 7/11/2018, 9:25 AM

I am extending you the invitations for the live webinar on "Wage Overpayments - Prevention and Recovery" that we are hosting with Compliance Key. If you are already registered, I apologize for the extra communication.

 I wanted to take a moment to highlight the key features of our webinars and the speaker delivering this session.

Topic: Wage Overpayments - Prevention and Recovery
Date & Time: 16th July 2018 at 01:00 PM ET
Duration: 90 minutes

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Recovering wage overpayments can be a time-consuming and sometimes challenging process for payroll professionals. State laws governing recovery of employer overpayment and adjustment of related taxes often vary from the federal rules and from state to state. Recovery may be difficult or cause hardship for employees, particularly in termination cases. Understanding your compliance obligations and responsibilities to your employees is critical. 

Employment terminations will be discussed as an area of particular susceptibility to wage overpayments and how problems related to terminations can be minimized. 

When errors do occur, it is important that employers follow appropriate procedures for making corrections and recovering overpaid amounts. 

Recovery of an overpayment in the year the overpayment occurred will be distinguished from recovery in a subsequent calendar year. This includes recovery and repayment of overpaid taxes and the special problems with fringe benefits based on wages and corrections or amendments to payroll and wage reports such as Forms 941 and W-2.

Areas Covered in the Session:

  • When overpayments may be recovered using payroll deduction and when payroll deduction may be limited by state or federal wage and hour laws or when employee consent is required
  • Alternative recovery methods when payroll deduction is not allowed or not possible. For example, in the case of a former employee
  • Special procedures that apply to subsequent year recovery. This includes a discussion of same calendar year recovery, why repayment of net pay rather than repayment of gross pay can cause problems, and why subsequent year recovery does not affect wages for the year of recovery
  • Tax computations when there is a partial recovery
  • Wages and tax reporting for the year of the overpayment and the year of recovery
  • Best practices wage overpayments compliance training for avoiding, detecting, and controlling

Speaker's Credentials:

Patrick Haggerty is Keynote Speaker at Compliance key Inc. He is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice. He began teaching accounting at the college level in 1988...read more

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