Payroll Requirements For Terminated Employees
This training session covers the laws and procedures affecting pay for terminated employees.
Paying an ex-employee involves not just distributing the ex-employee's final paycheck, but knowing how to properly handle and tax any severance or other benefits due, then integrating these payments with compliance regulations under COBRA or the Stimulus Act.
You also will learn how to handle the more-advanced issues such as requirements for death payments, legal settlements, and stock options.What You'll Learn:
By attending this audio conference you will learn:
- The different types of termination pay
- The timetable for how quickly your employees have to be paid in each state where you have workers
- The payroll tax consequences of payments made to an employee as part of a severance or layoff
- The difference between providing wage continuation versus lump sum severance
- Whether severance can be used when determining the benefits an employee will receive from the Unemployment Office
- How Supplemental Unemployment Benefit Plans can be used to decrease the costs associated with severance payments
- How wage continuation and lump sum severance payments affect unemployment insurance benefits
- Whether severance is taxable or non-taxable
- How the new Stimulus Act effects the provision of COBRA to those employees that have been terminated
- How to identify any areas of concern prior to an external audit or an audit by another group within your company
- Requirements for death payments, legal settlements, and stock options
- Exceptions to the rules
...and as always, this session will be interactive, so we'll be able to answer your questions on this topic throughout the presentation!