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Rules and Responsibilities Regarding Abandoned Wages
January 19 @ 1:00 PM - 2:00 PM EST$149
Examine the rules and responsibilities regarding abandoned wages.
If your payroll department is not handling unclaimed wages properly, you could be placing your company at risk for huge audit assessments, significant interest accumulations, and civil and criminal penalties. If your company issues any type of employment check, it is your responsibility to ensure that your company is holding unclaimed wages properly and in accordance with the law. It is estimated that 15 to 20 percent of businesses currently comply with unclaimed property laws. However, many companies are not aware of their reporting responsibilities and may just write off unclaimed property. This can cause your company fines for failure to report unclaimed wages.
- You will be able to discuss payroll department responsibilities.
- You will be able to identify when wages are considered abandoned.
- You will be able to review liability.
- You will be able to describe adequate documentation.
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