21 Progression Series - 4

1
WHAT IS PAYROLL?
 	The nature and role of the 		
	profession
 	Objectives of the payroll 		
	department
DETERMINING WORKER TYPE
 	Types of workers
 	Making the determination
	 between employees and
	 independent contractors
	 Using Form SS-8
	 Expatriates, nonresident aliens, 	
	 resident aliens
WHAT DO I NEED FROM
AN EMPLOYEE?
 	Forms I-9 and W-4
 	Social security numbers
 	New hire reporting
	E-Verify
FAIR LABOR STANDARDS ACT
	 Exempt and nonexempt
	 employees
	 Child labor restrictions
EMPLOYEE WAGES
 	The federal and state minimum
	 wage rates
 	Tips and the tip credit
 	Shift premiums
 	Workweeks
	Penalties
CALCULATING OVERTIME
PAYMENTS
 	Regular rate of pay
 	Overtime premium rate
 	Piecework and commission
 	Bonuses
 	Multiple pay rates
 	Overtime for salaried employees
DEFINING TIME WORKED
 	Collecting time worked
 	Waiting to work
 	Preparing to work

PAYROLL PRACTICE
ESSENTIALS
Course Outline*
WITHHOLDING TAXES
 	Form W-4
 	Federal income tax withholding
	 -	Methods
	 - Supplemental wages
 	Social security and Medicare
	 tax withholding
 	State and local income and
	 unemployment tax withholding 	
	overview
 	Employer-paid taxes and
	gross-ups
 	Deceased employee's
	 tax withholding
DETERMINING TAX TREATMENT
OF EMPLOYER-PAID BENEFITS
 	IRS definition of compensation
 	Taxable/nontaxable compensation
 	Fair market value
 	Nontaxable fringe benefits
 	Prizes and awards
	 Personal use of company vehicles
	 Group-term life insurance
 	Deferred compensation
	 -	 Qualified and nonqualified plans
 	Cafeteria (flexible benefit) plans
	 Adoption assistance
	 Affordable Care Act basics
	 FMLA regulations and 			
	requirements
VOLUNTARY AND INVOLUNTARY
DEDUCTIONS
 	Voluntary deductions
	 - Wage assignments
	 - Charitable contributions
	 - Overpayments
 	Involuntary deductions
	 -	 Child support orders
	 -	 Medical support orders
	 -	 Federal tax levies
	 -	 Creditor garnishments
	 -	 Student loan garnishments
	 -	 Federal agency loan 			
		garnishments
	 -	 Priority of multiple 			
		 withholding orders

© 2021 API Fund for Payroll Education, Inc.

PAYING EMPLOYEES
 	Pay frequencies and timing
 	Payment methods
 	Unclaimed wages
 	Fraud prevention
REPORTING TAXES AND WAGES
	 Employer identification numbers
	 Depositing federal taxes
	 Form 941 and Schedule B
	 (Form 941) preparation
 	Federal and state unemployment
	 tax overview
	 Form 940 and Schedule A
	 (Form 940) preparation
 	Form W-2 preparation
 	Form 1099-R
 	Form 1099-MISC
 	Form 1099-NEC
PAYROLL ACCOUNTING
 	Accounting basics and principles
 	Double-entry accounting
 	Accounting period
 	Accruals and reversals
PAYROLL SYSTEMS, AUDITING,
AND RECORDKEEPING
 	Employee and manager
	self-service
 	Interfaced and integrated systems
 	Reconciliations and
	 control procedures
 	System security
	 Internal controls and audits
 	Employee master file
 	Record retention
THE PAYROLL PROFESSION
 	Effective communication
 	Principles of customer service
 	Keeping up with changes 		
	 affecting the payroll department
	 Data and confidentiality breaches
*Program is subject to change without notice.

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21 Progression Series

Table of Contents for the Digital Edition of 21 Progression Series

21 Progression Series - 1
21 Progression Series - 2
21 Progression Series - 3
21 Progression Series - 4
21 Progression Series - 5
21 Progression Series - 6
21 Progression Series - 7
21 Progression Series - 8
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