Categorizing Workers & The New Overtime Rules

Author: Robert K Minniti

The US Department of Labor has implemented new overtime rules that are effective as of December 15, 2016. Are you familiar with the new rules, do you have any questions about implementing the rules? Businesses are also having audit issues with the way workers are categorized. Do you know all the IRS rules for how to categorize an employee? This course will review the IRS and Department of Labor rules.

Publication Date: January 2017

Designed For
CFOs, CEOs, business owners, business managers, internal auditors, human resource employees, human resource managers, external auditors, corporate accountants, government accountants, CPAs, CMA, CIAs and risk management personnel.

Topics Covered

• Newly implemented overtime rules
• How to categorize an employee
• Review the IRS and Department of Labor rules

Learning Objectives

• Identify the methodologies for categorizing workers
• Recognize and apply the new overtime rules
• Differentiate how to properly categorize employees
• Identify indicators under the common law rules for an employee vs. an independent contractor
• Recognize financial control factor employers can use to determine if a worker is an independent contractor
• Differentiate factors in determining if an employee is exempt from both the FLSA minimum wage and overtime requirements
• Identify employer responsibilities in regards to federal law and employee categorization and pay requirements
• Recognize the three conditions a worker must meet to be a statutory employee
• Identify the required steps to take if an employer miscategorized an employee as an independent contractor
• Describe the evaluation system factors for determining independent contractor
• Recognize and apply the FLSA overtime requirements

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Accounting (1 hour), Taxes (1 hour)

Program Prerequisites
A basic understanding of payroll.

Advance Preparation
None