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Third party sick pay what you need to know in 2021

  • Accountant
  • AFSP
  • CRTP
  • CMA
  • CPP
  • CPA (US)
  • EA
  • HRCI
  • ORTP
  • SHRM
  • FPC
  • Maryland Tax Prep.
  • CFIRS
  • CWS

Published: December, 2021

Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Paid sick leave
    6 mins
  • Paid sick leave-city requirements
    36 mins
  • Paid sick/Family leave - COVID19
    37 mins
  • Short term disability or third party sick pay
    41 mins
  • Long term disability
    45 mins

Course Description

Legislation is changing rapidly in regards to employers being required to provide employees with accrued sick time. In 2020 with the COVID-19 pandemic states and federal have updated legislation on paying sick pay. It began with city legislation and has now moved to states such as California that employers must comply with.  Employees who lose wages as a result of illness or a nonwork-related accident are eligible to receive disability payments, also known as third-party sick pay.

Most employers provide some degree of wage protection for employees who miss work Due to personal illness or injury. Sick pay paid directly by an employer generally is treated as ordinary wages, subject to withholding for federal employment taxes. FICA taxes, however, apply to such payments only for the first six months.

If sick pay is provided through a third party, such as an insurance company, income tax withholding does not apply unless requested by the employee. For purposes of FICA, the third-party payer of sick pay is considered the employer and is responsible for withholding, paying, depositing, and reporting taxes on sick payments unless this responsibility is transferred to the actual employer.

Any portion of sick pay paid by a third party that is attributable to the employee’s own premium contribution is not wages and is not subject to withholding. However, when premium contributions are made with pre-tax dollars under the employer’s cafeteria plan and deferred from taxation, then any sick pay paid by a third party to the employee is subject to FICA and FIT withholding.

Major Topics covered in this online Tax Update CPE/CE webinar:

  • Up to date legislation and pending legislation in regards to mandated sick pay requirements on employers.
  • Who is responsible for tax withholding and reporting for third-party sick pay?
  • Details of states with disability funds 
  • How the tax is handled and claims are worked in regards to your third-party provider?
  • 2020 & 2021 federal requirements due to the Emergency paid sick leave act and the families’ first coronavirus response act.

Learning Objectives

  • To review different types of ways companies can choose to handle third party sick pay with their providers. 
  • To discuss State and City review of current legislation of sick accruals that must be provided to employees 
  • To determine W-2 reporting requirements for third party sick pay 
  • To determine what tax should be withheld and reported and by whom 
  • To describe how to handle waiting periods before disability starts

Recommended For

  • This online CPE webinar is recommended for CPAs, CMAs, CEOs, CFOs, HR Professionals, Business owners interested in learning everything about third party sick pay.
  • This IRS-Approved CE course will be insightful for EAs, AFSP, and Other Tax Professionals involved in advising their business clients.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Assistant Controllers
  • Business Owner
  • California Registered Tax Professional
  • CEO
  • Certified Public Accountant (CPA)
  • CFO/Controller
  • Compliance Managers
  • Compliance Officers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • HR Professionals
  • Human Resources Manager
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros

Course Qualification

Webinar Qualifies For

  • 1 CE Credit for Enrolled Agents (EA) (Approval No. GEHNZ-T-00611-21-S)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CPE Credit for Certified Management Accountants (CMA)
  • 1 CE Credit for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0584)
  • 1 CE Credit for Annual Filing Season Program (AFSP)
  • 1 RCH Credit of HR (General) for Human Resource Certification Institute (HRCI) (Approval No. 583608)
  • 1 CE Credit for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00611-21-S)
  • 1 CE Credit for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00611-21-S)
  • 1 PDC Credit for SHRM Professionals (Approval No. 22-TZ9VC)
  • 1 RCH Credit for Certified Payroll Professional (CPP) (Approval No. 22CPE003)
  • 1 RCH Credit for Fundamental Payroll Certification (FPC) (Approval No. 22CPE003)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit for Accountant/Bookeeper

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

4.2

22 Ratings

Excellent

9

Very Good

9

Average

4

Poor

0

Terrible

0

KM

Kristin Mcquiston, PHR, SHRM - CP

Mar 24th, 2022

N/A

LA

Lisa Allison, CPP

May 16th, 2022

.

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