About This Course:
Employee expense reimbursements are subject to IRS guidelines and can be disallowed as expenses - and even considered compensation to those employees - if not handled correctly.
Further, if employee expense reimbursements do not meet IRS guidelines, they may be disallowed as expenses and considered compensation to those employees, leaving your organization responsible for the associated payroll taxes - plus any penalties.
This training session will help you to recognize - and accurately report - employee expense reimbursements.
What You'll Learn:This course covers the rules and requirements for expense reimbursements, as well as best practices for processing expense reimbursements either in payroll or accounts payable, and covers:
- IRS expense reimbursement requirements
- Your plan must be deemed an "Accountable Plan" by the IRS in order for ANY expense reimbursement to be excluded from payroll taxes. Do you know what makes a plan "accountable?"
- So you have a taxable expense reimbursed to employees, what are your options for calculating and reporting those taxes
- Are per diems good for your company?
- General rules of thumb to keep in mind about all expense reimbursements
- Detailed rules for specific types of reimbursement - high on the auditors review list!
- Areas where state law can differ from federal law
- Employee fraud: what to look for
- Case studies: these companies have well thought out plans - did the IRS agree or disagree
You'll also receive "Best Practices" tips for:
- Use of company and personal credit cards
- Your company expense reimbursement policy
- Accounts Payable and Payroll Dept communication
Top FAQs
While many payroll-related regulations are federally-governed, there also are many state requirements, including those for handling garnishment, final paychecks, and unclaimed paychecks. Each state's requirements differ in the details, so be sure to check your state's requirements by clicking the applicable link(s) at the bottom of this page.
Phantom employees and having a co-worker punch a timecard for an employee who is not present are two common issues of payroll fraud.
Payroll Administrators must be able to:
- Properly "classify" workers
- Apply the various exemptions
- Calculate gross pay and properly make deductions
- Correctly identify, pay, and withhold taxes for employees
- Administer deferred compensation, cafeteria plan, sick pay, and other compensation
- Handle stock options, expense reimbursements, relocation, and other "expenses"
- Follow the proper policies, procedures, and documentation requirements for garnishments and levies
- Properly complete and file all required reporting requirements
- Correctly complete year-end requirements and establish year-beginning requirements
- Implement and maintain fraud, audit, disaster recovery, and record retention processes and procedures
In addition to ensuring that employees are paid correctly and on time, "Payroll" has numerous time and reporting requirements. The primary payroll areas include paychecks, reporting, operations, and management.
Yes.
In business since the mid-1990's, we have over 25 years of experience delivering high-quality training content via seminar, webinar, online, and other formats. Each of our courses are delivered by an industry expert who will share his or her years of experience to help you be in compliance, smarter, and more productive, and almost all offer SHRM and HRCI credits.
Payroll is much more than just handing out paychecks, and includes a variety of responsibilities such as handling garnishments, travel pay, multi-state taxation, unclaimed paychecks, and much more in a timely and accurate fashion.
Get trained on what to do! In some instances, fraud may require you to involve the police and/or go to court, so make sure you do things correctly!
