Garnishment Update 2022
EVENT DATE:
PRESENTER(s): Dayna J Reum
This program has been approved HRCI Credit 1
Garnishments are a requirement of doing business and having employees but altering the requirements of different types of garnishments and federal and state laws can be exhausting. Beside payroll tax, garnishments in general can be the most compliance rich area for companies to maintain. Understanding all the laws in regards to garnishments such as child support orders, Federal and state levies, student loan and credit garnishments can be overwhelming. It is important for companies to understand these laws and how to comply them to avoid costly penalties.
This virtual seminar will give you the tools to better understand the responsibilities that a company has in regards to all types of garnishment orders. Federal guidelines such as Consumer Credit Protection Act, federal IRS levy requirements, state specific levy & garnishment withholding requirements. The federal and state regulations in regards to applicable earnings will be reviewed. Recent legislation challenges will be discussed and best practices on how to keep up with changing legislation will be discussed.
- How to determine how much to withhold for child support
- Determining the priority of garnishment orders
- Levy Review
- Recent legislation challenges such as lump sum reporting for child support orders
- Discussion of legally allowed Child Support fees and how to administer
- Review of EIWO and the benefits
- How to properly calculate applicable earnings ex: Disposable earnings, Take home pay
- Determining the process for terminated employees with garnishment orders
- Garnishment processing best practices
- Student loan garnishment processing changes
Who will Benefit:
- Payroll Professionals
- HR Professional
- Accounting Professionals
- Tax Professionals
- Business owners
- Accountant
