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Wage Garnishments 2023 Updates and Proper Processing - Calculations & Latest Legal Compliance Issues

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 loan and credit garnishments can be overwhelming. It is important for companies to understand these laws and how to apply them to avoid costly penalties.

This webinar 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.

 

Learning Objectives:

-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
-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
-Garnishment processing best practices
-COVID-19 and how it has affected garnishment processing
-Student loan garnishment processing changes

 

Why Attend This Training:

One of the most frustrating payroll tasks is dealing with garnishment orders. The rules on the amounts of pay that can be subjected to garnishment orders, priority of garnishments that apply, and the Federal and state laws that come into play are complex. Failing to comply with the rules can result in costly penalties.

Join us to receive step by step guidance on how to evaluate and process the various types of garnishment orders including child support, spousal support, alimony, federal and state taxes, bankruptcy, student loans, and creditor garnishments. In this 60-minute webinar you’ll discover:

-How to manage multiple garnishments: Which take priority
-Clear cut guidance for factoring child support wage garnishments
-Voluntary wage assignments vs. garnishments: Understanding the difference
-How to comply with withholding for other states
-Federal & state laws surrounding wage garnishments: How they apply

 

Who Should Attend-

-CFOs
-Controllers
-Accounting Managers
-Payroll Managers/ Professionals
-Human Resource Managers/Professionals
-Tax Managers/Professionals
-Benefits Professionals

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