In these tough economic times, layoffs have been occurring in companies of all sizes. In fact, some states are approaching a 10% unemployment rate.
As a result of the large amounts of layoffs and downsizing, many payroll personnel are forced to deal with issues that they may not have encountered previously. For instance, managing a multitude of severance agreements that have differing rules depending upon the states the employees worked in.
The bottom line: things could slip through the cracks, especially in areas where the payroll team has not had much previous experience.Are You Prepared To Handle These Issues:
- Are you aware of how quickly your employees have to be paid in each state where you have workers?
- If your employer is paying severance, is the severance used when determining the benefits an employee will receive from the Unemployment office?
- Is there a difference between providing wage continuation versus lump sum severance?
- Is the severance taxable or nontaxable?
- How does the new Stimulus Act effect the provision of COBRA to those employees that have been terminated?
By attending this audio conference you will learn:
- What are the payroll tax consequences of payments made to an employee as part of a severance or layoff?
- How can Supplemental Unemployment Benefit Plans be used to decrease the costs associated with severance payments?
- How wage continuation and lump sum severance payments affect unemployment insurance benefits
- How the Economic Stimulus Plan affects COBRA coverage for terminated employees
We will also discuss the use of Supplemental Unemployment Benefit Plans as a way to reduce employment tax costs both for the employer and for the employee.About Your Speaker
Mindy Harada, CPP, is an employment tax specialist who has over 17 years of employment tax experience as an independent consultant, an employee with one of the Big 4 firms, and as a payroll tax auditor. Ms. Harada previously was the west coast practice leader for the Employment Tax Practice at Deloitte Tax LLP.
Ms. Harada is a frequent presenter on various employment tax topics at APA events and for several payroll service providers on a national basis. She has presented before the Society of CPAs and has also spoken at several Payroll Conferences throughout the country. PHR / SPHR Credits!
This program has been approved for 1.5 recertification credit hours through the HR Certification Institute.