Instructor for this course
more

The quick onset of the COVID-19 Pandemic has resulted in organization’s trying to react quickly to government and legislative mandates for all aspects of operations.  This reaction has caused many complications and logistical issues in many areas including adequate preparation and management of payroll. Personnel and payroll are critical to all businesses. The payroll process includes a multitude of factors including pay rates, employee classification, sick leave, paid time off, withholdings, taxing, benefit plans and other elements that impact workers. 

On March 18, 2020, President Trump signed the Families First Coronavirus Response Act into law, authorizing certain relief to employees and small and midsize businesses pertaining to the COVID-19 pandemic. On March 26, the Senate unanimously passed a 2 trillion-dollar relief bill.  These bills include the CARES Act and the Payroll Protection Program.  The March 18 Act is intended to help the U.S. supply businesses and tax-exempt organizations with less than 500 employees with sufficient funds to provide employees with paid leave mandated taken in connection with the pandemic related to employees’ health condition or to provide care for family members. The funds are taken through tax credits.

In addition to legislative issues, companies must pro-actively manage all aspects of their payroll process from managing exempt and non-exempt personnel, to layoffs and furloughs, to paid benefits and taxing issues.  The payroll process is one considered “inherently” at high risk for fraud.  In this time of crisis, companies will need to be pro-active with their internal controls surrounding this process. This course highlights some of the payroll related issues employers must consider during this time.  We also briefly highlight the increased risk of fraud in the payroll process due to the pandemic.

Learning Objectives

 

  • Review the background of FICA, Medicare and unemployment taxes.
  • Identify the payroll impact of the Emergency Aid Package.
    •  Identify the impact for tax credits for the employer portion of Social Security and Medicare taxes.
    • Understand the requirements for paid sick leave and child-care leave for employees.
    • Understand requirements for aid qualification.
  • Identify payroll process areas to closely manage.
    • Evaluate areas of the Emergency Aid Package impacting the payroll process.
    • Continue to instill strong internal controls and preventative fraud measures.
  • Identify processes for expedited relief.

 

Last updated/reviewed: May 10, 2020

6 Reviews (30 ratings)Reviews

5
Anonymous Author
Great overview of the payroll changes during this time of COVID, appreciated the in depth look into Payroll Protection Program. Would like to see an update based on the recently passed legislation.
5
Anonymous Author
Lynn is an excellent instructor who always provides valuable information! I have enjoyed all of her courses and this one did not disappoint! Great topic with excellent review points.
5
Member's Profile
This was an extremely important course to take. I learned much about the payroll protection acts, emergency aid packages and many impacts to the payroll department,.
5
Anonymous Author
Important, timely information to review at this time. Helpful overview and detailed information in the appendix.
4
Anonymous Author
Good info - unfortunately not a lot of guidance was provided at the time to help answer some of the unknowns.
5
Anonymous Author
Well structured and presented course that covered the essential material of the subject matter.l

Prerequisites

Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  6:12Introduction to COVID-19 Impact on Payroll and Payroll Fraud
  9:01Payroll Tax Background
  15:04Emergency Aid Package
  16:25Other Emergency Aid Impacts on Employees and Payroll
  18:39Important Payroll Processes
  5:14Payroll and Payroll Fraud Risks
  2:08Summary
  4:09Appendix - Employer Paid Leave
CONTINUOUS PLAY
  1:16:52COVID-19 Impact on Payroll and Payroll Fraud
SUPPORTING MATERIAL
  PDFSlides: COVID-19 Impact on Payroll and Payroll Fraud
  PDFCOVID-19 Impact on Payroll and Payroll Fraud Glossary/ Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM