Late filing...TIN matching...Errors on returns...Any of these items may result in a penalty from either a state or federal agency (along with the impression of a payroll department that is not compliant or prudent in their filings!).
But many times these penalties can be waived - if you know how! And that is where this training session can help.
You'll learn the process for getting your payroll penalties waived from Mark Schwartz, a former Payroll Auditor who has a high success rate in getting payroll tax penalties waived for his clients.
During this 90-minute training session, you will learn about typical payroll penalties and what you can do to get them waived. Specifically:
Top FAQs
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
The company withholds income tax, Social Security, and Medicare from wages paid for employees, but none for Independent Consultants.
It often depends upon which factors - such as pay, tools, equipment, work hours, manner and means of performing services, etc,) the worker has control over.
Definitely! An audit can be done either by an internal person or outsourced to an expert, with the expectation of fixing or updating any issues to avoid fines, penalties, etc.
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.
A payroll audit typically occurs because either for many reasons: an employee makes a claim of unfair pay practices
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.
A payroll audit is a review of an organization's payroll procedures. It can be done internally for assurance or by an external entity such as the government in reponse to a complaint, lack or inconsistent reporting, etc.
Employees work directly for the company, which controls their work, pays their taxes, and often provides benefits, whereas the Independent Contractor is hired to do a specific job without the employee perks.
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.
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.
