2024 Payroll Record Keeping: Who Requires What, for How Long and in What Format
Payroll departments receive and
submit hundreds of thousands of bits of data each and every year.
Employee master file data such as name and social security number, employee
forms such the Form W-4, reports to the IRS such as Form 941, state unemployment
insurance quarterly returns, termination dates for employees and even child
support withholding orders.
A critical question that every
payroll professional must ask and more importantly answer is “What am I
required to keep, in what format and for how long”? That is what this
webinar will discuss. We will focus on the details at the federal level
for the major laws including the Fair Labor Standards Act, the Internal Revenue
Code, and Child Support Enforcement. We will discuss how long records must be
kept and in what format. We will review the records needed when a merger
or acquisition has taken place and whether or Sarbanes-Oxley is still relevant
when it comes to record keeping. We will also review how to keep the data
secure to ensure that what is retained is safe and intact when and if it is
ever requested.
Areas Covered
- The importance of record keeping in a payroll
department
- Regulatory agencies with payroll record
keeping requirements including:
- Department of Labor
- IRS
- Child Support
- Others
- Details of exactly what data needs to be
saved and in what format can it be kept.
- Does Sarbanes-Oxley still matter for record
keeping?
- Mergers, acquisitions and how it affects
payroll record keeping.
- Keeping the data secure to remain in
compliance.
Why you should attend
Attending this webinar is
essential for payroll professionals who need to navigate the complexities of
record-keeping amid evolving regulations. With payroll departments managing
vast amounts of data, including employee records, IRS reports, and child support
orders, understanding the federal requirements under laws like the Fair Labor
Standards Act, Internal Revenue Code, and Child Support Enforcement is crucial.
This webinar will provide clarity on what data must be retained, in what
format, and for how long, while also addressing the impact of mergers and
acquisitions on record-keeping and evaluating the relevance of Sarbanes-Oxley
in current practices. Additionally, it will cover best practices for securing
payroll data to ensure compliance and protect against potential issues. Don’t
miss this opportunity to enhance your record-keeping practices and stay
compliant with the latest regulations.
Who Should Attend
- Payroll
Executives/Managers/Administrators/Professionals/Practitioners/Entry Level
Personnel
- Human Resources
Executives/Managers/Administrators
- Accounting Personnel
- Business Owners/Executive Officers/Operations
and Departmental Managers
- Lawmakers
- Attorneys/Legal Professionals
- Any individual or entity that must deal with
the complexities and requirements of Payroll compliance issues
Instructor
Vicki M. Lambert, CPP, is President and Academic Director of The Payroll Advisor™, a firm specializing in payroll education and training. The company’s website www.thepayrolladvisor.com offers a payroll news service which keeps payroll professionals up-to-date on the latest rules and regulations. With nearly 40 years of hands-on experience in all facets of payroll functions as well as over three decades as a trainer and author, Ms. Lambert has become the most sought-after and respected voice in the practice and management of payroll issues. She has conducted open market training seminars on payroll issues across the United States that have been attended by executives and professionals from some of the most prestigious firms in business today. A pioneer in electronic and online education, Ms. Lambert produces and presents payroll related audio seminars, webinars and webcasts for clients, APA chapters and business groups throughout the country. Ms. Lambert is an adjunct faculty member at Brandman University in Southern California. She is the instructor for the American Payroll Association’s “PayTrain” online program offered by Brandman University.
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