Garnishments and Tax Reform: Understanding the Impact on Your Payroll

Credit(s)

IRS CPE Credits: 1 Tax hour

Garnishments are a requirement of doing business and having employees but juggling the requirements of different types of garnishments and federal and state laws can be exhausting.  This webinar will give you the tips and tools to know how to stay compliant and process garnishments Along with challenges and risks employers hold when not properly handling garnishments.  Will review the impact to garnishments due to the recent tax reform accordingly.

Webinar Agenda

• Child Support Review
  • Employer Responsibility/Employee Protections
  • Priority of Withholding/Multiple Orders
  • Child Support withholding requirements
  • Defining Income/Calculating disposable pay
  • Lump Sum Payments
  • Calculating Child Support Payments
  • When to remit payments
  • Administrative fees
  • Handling terminated employees
  • E-IWO (electronic income withholding orders)
  • Other Child Support Concerns
  • Medical Support Orders
  • Details of State Requirements
• Levy Review
  • Federal Tax Levies
    • Forms
    • State Laws
    • Creditor Garnishments
    • Priorities
    • Calculating deductions
    • Special Situations
    • Remittance Requirements
    • Voluntary Deductions
• Other Federal Garnishments/CARES Act
• State Tax Levies
  • Requirements
  • State Laws
• Creditor Garnishments

Webinar Highlights

• Better understanding the employer responsibilities
• How to properly calculate Garnishment deductions?  According to the law or the order or a little bit of both?
• Review of lump sum reporting requirements and how to comply
• Proper order of garnishment priority when an employer receives multiple orders.
• How to determine which law to follow state or federal?

Who Should Attend

Payroll and Tax Professionals