Supplemental pay includes compensation, such as overtime premiums, bonuses, severance pay, and fringe benefits. It is an important component of employee compensation, with its own set of withholding rules.
In this practical webinar, you will learn how to distinguish between supplemental wage payments and regular wage payments. You will then learn how to identify wage payments that are neither supplemental nor regular. You will also learn about methods used to compute withholding on supplemental pay and application of the rules and methods to specific payments and situations.
Upon course completion, you will be able to:
- Distinguish between supplemental wage payments and regular wage payments
- Identify wage payments that are neither supplemental nor regular
- Compute withholding using each of the methods specified for supplemental wages
- Identify critical options and exceptions to the general rules
- Apply the rules to:
- Common and uncommon examples of supplemental pay
- Severance pay
- Deferred compensation
- Other post termination payments
- Determine when the 22% flat rate may be used and when it is not allowed
- Determine when the 37% flat rate must be used and how to apply it to supplemental wage payments
- Avoid failure to withhold penalties
Advanced Preparation: None
Program Level: Intermediate
Field of Study: Accounting, Taxes
Patrick Haggerty
Patrick A. Haggerty is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice. He has taught accounting at the college level for over 31 years. He is licensed as an Enrolled Agent by the U. S. Treasury to represent taxpayers at all administrative levels of the IRS and is a Certified Management Accountant. He has written numerous articles and a monthly question and answer column for payroll publications. In addition, he regularly develops and presents webinars and presentations on a variety of topics, including payroll tax issues, FLSA compliance, information returns, and accounting.
CLE Credits (Law)
| Credit | Value | Type | Format |
|---|---|---|---|
In some CLE states, the course will be submitted to the bar after you register. If for any reason the course is not approved, we will fully refund your registration fee. If a state is listed on this course, then we are confident the course fits that state's standards and already is or will be approved for credit.
HR Credits
| Credit | Value | Type | Format |
|---|---|---|---|
| HRCI | 1.5 |
General |
On-Demand/Recording |
| SHRM | 1.5 |
General |
On-Demand/Recording |
Accounting Credits
| Credit | Value | Field of Study | Format |
|---|
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