IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Final Paychecks: How to Avoid Legal Risk With Accurate Calculation and Distribution (OnDemand Webinar)

$149.00

SKU: 409476EAU

Description

Better understand how to implement strategies that are compliant with federal and state wage payment regulations for final paychecks.Employers face an oftentreacherous landscape of legal and practical challenges related to final wage payments, ranging from complex and varied timing requirements to divergent rules about what amounts must be included or what (if any) deductions can be made. These problems are particularly acute for multistate employers, who must navigate an overwhelming array of technical rules about how to pay departing employees. And the penalties for getting it wrong can be significant and costly, as final pay errors can result in legal liability, sometimes in the form of class or collective actions. This course will provide you with an overview of the legal requirements relating to final pay obligations, coupled with practical guidance about how to best calculate final wages in a timely manner. Explore common pitfalls relating to final pay including issues concerning paid time off and vacation, bonuses and other incentive compensation, and deductions. In addition, the material will provide you with tools to help understand final pay requirements, and discuss best practices to avoid liability.

Date: 2022-02-18 Start Time: End Time:

Learning Objectives

Determining Final Pay Amounts
• Calculating Amounts Owed to Nonexempt and Exempt Employees
• Determining Entitlement to Bonuses and Other Forms of Incentive Compensation
• Permissible Deductions From Final Pay Amounts (e.g., for Advances/Loans, Equipment, etc.)
• Expense Reimbursement Obligations Upon Termination

Vacation, Personal Day, and Paid Time off Payment Obligations
• Where Governed by Law
• Where Governed by Policy
• Best Practices for Paying out Vacation or Other Paid Time off

Timing and Methods of Final Wage Payments
• Deadlines Related to Terminated Employees
• Deadlines Related to Resigning Employees
• Deadlines Related to Bonuses, Commissions, and Other Forms of Incentive Compensation
• The Manner and Place of Paying Final Wages, Whether In-Person, by Direct Deposit, or Mail/Courier

Pitfalls and Potential Liability From Final Pay Errors
• Potential Liability for Delays in Final Wage Payments
• Potential Liability for Miscalculation of Final Wage Payments
• Best Practices to Avoid Delays or Miscalculations in Final Wage Payments

CLE (Please check the Detailed Credit Information page for states that have already been approved) ,CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Philippe A. Lebel-Proskauer Rose, LLP