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Navigating State Escheat Laws: Understanding and Managing Unclaimed Wages
Credit(s)
IRS CPE Credits: 1 Tax hour
Avoiding Compliance Pitfalls: A Comprehensive Guide to Unclaimed Wage Reporting
Unclaimed Wages or Escheat laws are those of each state that require employers to report and remit amounts for checks that are uncashed by employees.
Failing to adhere to each state's requirements for reporting and remitting unclaimed wages can create significant compliance issues for employers.
This webinar by payroll expert Dayna J. Reum, CPP, FPC, will cover the unclaimed wage laws for all 50 states. It will help participants understand the distinction between reporting and remitting, as well as clarify what is considered unclaimed and Eschea.
It will also discuss the complexities and challenges with unclaimed wages.
Webinar Objectives
- What are unclaimed properties
- Difference between tangible and intangible property
- Review of state law dormancy period
- Who must worry about unclaimed property?
- What companies are at higher risk of audit
- Record Retention requirements
- Review of the meaning of due diligence in relation to trying to notify the employee of pay owed.
Webinar Agenda
- What are unclaimed Properties?
- When is property considered abandoned?
- Employer/Company risk
- How to handle an audit?
- Unclaimed Properties Compliance
- Special Payroll Concerns
- Best Practices
Who Should Attend
Payroll and Tax Professionals
Credit(s)
IRS CPE Credits: 1 Tax hour
Dayna J. Reum, CPP, FPC
Dayna is currently the Director of Payroll Operations at a major medical center in Chicago. Dayna has been heavily involved in the payroll field over 20 years. Starting as a payroll clerk at a small Tucson company, Dayna moved on to be a Payroll Team Leader at Honeywell Inc. During Dayna’s time at Honeywell she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. She also received several merit awards for Customer Service and Acquisitions and Divestitures. Dayna is no stranger to teaching she has taught at the Metro Phoenix American Payroll Association meetings and at the Arizona State Payroll Conference. Topics including Payroll Basics,...
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