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Human Resource & Payroll

Garnishment Updates and Proper Processing - 2022 Edition (Federal & State Granishments)

Overview

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 loans, and credit garnishments can be overwhelming. 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. It is important for companies to understand these laws and how to apply them to avoid costly penalties. This webinar will give you the tips and tools to better understand the responsibilities that a company has in regard 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 regard 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.

 


Areas Covered In this Training:

-How to determine & how much to withhold for child support
-Determining the priority of garnishment orders
-Recent legislation challenges such as lump sum reporting for child support orders
-Lump-Sum Payments and When to Remit payments & Remittance Requirements
-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
-COVID-19 and how it has affected garnishment processing
-Changes to 2020 Student loan garnishment processing
-Employer Responsibility/Employee Protections
-Levy Review - Federal Tax Levies
-Calculating Deductions and Voluntary Deductions
-Priorities and Special Situations
-Medical Support Orders and other Child Support Concerns
-Other Federal Garnishments/CARES Act
-Details of State Requirements: State Tax Levies – State Laws; Requirements; & Creditor Garnishments
-Garnishment processing best practices

 


Why Attend This Training-

This webinar will give you the tips and tools to know how to stay compliant and process garnishments. We will talk about all the updates to Garnishment legislation due to the COVID-19 pandemic and how we are still dealing with them in 2022. Along with challenges and risks employers hold when not properly handling garnishments. Will review the impact of garnishments due to the recent tax reform accordingly.
After attending this webinar, you will be able to –
-Better understand the employer's responsibilities
-Correctly calculate Garnishment deductions – According to the law or the order or a little bit of both?
-Review 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?
-Understanding the CARES act and how it affects student loan garnishments still into 2022.
-Garnishment Best Practices
-And much more…..

 


Duration – 60 Minutes
Suggested Attendees-

-Payroll professionals
-HR Professionals
-Accounting Professionals
-Tax Professionals
-Benefits Professionals 

 

You may ask your Question directly to our expert during the Q&A session.

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