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Handling Terminated Employees Properly

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • HRCI
  • ORTP
  • SHRM
  • MRTP
  • CFIRS
  • CWS

Published: September, 2022

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Termination pay
    5 mins
  • Types of termination pay
    17 mins
  • Taxation of termination payments
    25 mins
  • Taxation of termination benefits
    31 mins
  • Legal settlements
    39 mins
  • Employment Tax Issues
    42 mins

Course Description

Goodbyes are certainly hard. They are harder when it’s an employee. Even harder when you have to write a termination letter to an employee and heartbreaking if it’s a voluntary termination from a top performer. Several compliance issues behind how to handle any payments to an employee after termination. Because of the complexity of payments and laws in several states protesting terminated employees.  It is important for payroll to understand these laws to ensure compliance.

In this online CE/CPE webinar, speaker Dayna Reum will go into detail about what employers face when paying terminated associates. 

This CE course will review everything from final pay to stock options and payments to employees that may occur years after they terminate. Along with reviewing the difficult situation when you have to pay terminated employees’ legal settlements. It will also cover the tax implications and how to handle taxes are several different types of termination pay.

Major topics covered in this CE course:

  • Termination Pay-When you must pay
  • Types of Term Pay
  • Employment Tax Concerns
  • Year End Considerations
  • Terminations due to death
  • Legal Settlements
  • State UI Funds
  • WARN Act
  • Severance Payments
  • SUB Plans

This CE/CPE webinar will review all aspects of paying terminated employees and making sure they stay compliant during the termination and after the process.   

Here is the link to your interests: PDC/RCH Courses | Tax webinars

Learning Objectives

  • To review different types of term pay from vacation pay to golden parachute payments.
  • To discuss stock options and deferred compensation after termination.
  • To explain taxation concerns regarding payments made to terminated employees.
  • To identify the timing of final pay for terminated employees including state law requirements.
  • To analyze year-end concerns.
  • To discuss death payments paying and reporting.
  • To analyze how to handle legal settlements.
  • To explain record retention concerns.
  • To identify best practices.

Recommended For

  • This IRS-approved CE webinar is recommended for C CPAs, EAs, AFSPs, Tax Preparers, SHRM Professionals, and Other Tax or Payroll Professionals who want to understand how to handle the termination of an employee effectively.

Who Should Attend?

  • Bookkeepers & Accountants & Tax Preparers
  • California Registered Tax Professional
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
  • 1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0994)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01200-22-S)
  • 1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01200-22-S)
  • 1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01200-22-S)
  • 1 RCH Credit of Business for Human Resource Certification Institute (HRCI) (Approval No. 598902)
  • 1 PDC Credit of Business Acumen for SHRM Professionals (Approval No. 22-2HYNG)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Dayna Reum

Specialist, Ann & Robert H. Lurie Children's Hospital of Chicago

Dayna currently is the director of payroll operations at a major medical center in Chicago and has been heavily involved in the payroll field for more than 20 years.

She started as a payroll clerk at a small Tucson company but moved on to be a payroll team leader at Honeywell Inc. 

During her time at Honeywell Inc., she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. Dayna has also received several merit awards for customer service and acquisitions, and divestiture.

She also serves on the National American Payroll Association on the national Strategic Leadership Task Force, Government Affairs Task Force (PA Local tax subcommittee), and received a citation of merit for her service along with being a gold pin member of the APA.

Dayna is also a CPP (Certified Payroll Professional) through the APA and certified in HR hiring and firing practices and is a Six-Sigma Greenbelt.


About Company

Ann & Robert H. Lurie Children's Hospital of Chicago

www.luriechildrens.org/

Ann & Robert H. Lurie Children's Hospital of Chicago is the largest pediatric healthcare provider in the region with a 130 year legacy of excellence. We are proud to serve as the pediatric teaching and research partner of Northwestern University Feinberg School of Medicine, and are ranked nationally in all 10 pediatric specialties by U.S. News & World Report.

Faq

FAQs content

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Ratings and Review

4.7

11 Ratings

Excellent

8

Very Good

3

Average

0

Poor

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SH

Sarah Hill, CPA (US)

Sep 30th, 2022

good

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