Payroll Withholding: Legal Compliance And Best Practices
The IRS doesn't collect employees' taxes — you do.
In fact, employers collect more than 70% of all federal revenue through withholding—$1 trillion a year. You're also the nation's child support collector-in-chief. And don't forget employees' 401(k) contributions … they're withheld, too.
With such huge dollars at stake, you MUST get withholding right—every time. The IRS is especially on the lookout this year for even the most innocent mistakes.
Discover the secrets of withholding employees' taxes, child support, retirement contributions and more. Join payroll expert Alice Gilman, Esq., the editor of Payroll Legal Alert, for our important webinar, "Payroll Withholding: Legal Compliance and Best Practices".
Important: This webinar is especially timely because the IRS is in the middle of intensive line-by-line payroll audits to ensure that your withholding procedures are 100% correct. And it's not just the IRS. The U.S. Department of Labor has been on the prowl lately for employers that slip up on the confusing retirement contribution rules.
Use this webinar as a checklist to make sure your withholding practices are in total compliance. You will learn answers to questions like:
Plus, get answers to your own personal withholding questions from Alice, a true payroll expert!
- Are all those W-4s still valid? To prevent IRS scrutiny and penalties, learn the three circumstances that require employees to absolutely file new W-4s. Plus, discover the five situations in which you should immediately reject a W-4, and what to do when the IRS sends you a letter voiding an employee's W-4.
- Are your withholding processes correct? Computer programs and outside vendors are only as good as the data you've supplied. Best practice: Figure your own withholding at least once a year. We'll decipher the IRS' step-by-step instructions that will allow you do just that.
- How do we handle supplemental pay? You'll also be able to spot the 12 different types of supplemental pay (including noncash payments) and to apply the seven key rules for withholding on supplemental pay—even signing bonuses paid to employees who have yet to work one day.
- How do we handle garnishment orders? From child-support withholding to tax levies, learn the five types of garnishment orders and how to administer them. What if an employee is subject to more than one garnishment? Discover the priority rules and how federal and state law fit together (and what to do when they conflict).
- We use independent contractors, so no withholding, right? That's correct ... most of the time. Discover the four types of business organizations that can land you in the IRS' backup withholding program—and the three crucial steps to avoid personal liability for failing to withhold.
If your withholding process is on "auto pilot,” you're likely just repeating the same mistakes every two weeks. And even if you farm out payroll to a third party, the IRS will always hold YOU responsible for any mistakes.
Spend 75 minutes now to do a thorough check-up of your withholding compliance. You could save yourself thousands of dollars in taxes and penalties—and a career black eye.
|Licenses / Designations / Educational Credits:||PHR / SPHR Re-Certification Credits|
All US States: 1.25
All Canadian Provinces: 1.25
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|Keywords For This Course:|
payroll, withholding, paychecks, taxes, IRS, HR, accounting
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