Work-Related Forms & Laws


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Introduces students to W-2, W-4, and employment laws.

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Work-Related Forms & Laws

  1. 1. Work-Related Forms & Laws
  2. 2. Form W-4 Employee’s Withholding Allowance Certificate <ul><li>Helps employer determine how much money to withhold from paycheck for income taxes </li></ul><ul><li>Employer sends this money to government as partial payment of income taxes </li></ul><ul><ul><li>Federal </li></ul></ul><ul><ul><li>State </li></ul></ul>
  3. 3. <ul><li>Allowances – number that reduces the amount of tax withheld from your paycheck. </li></ul><ul><li>(The more allowances, the less money withheld and sent to government.) </li></ul><ul><li>Exempt Status – no money is withheld. You cannot claim exemption if </li></ul><ul><li>Income exceeds $950 and includes more than $300 of unearned income (interest, dividends) and </li></ul><ul><li>Another person can claim you as a dependent </li></ul>
  4. 4. Social Security Forms <ul><li>Social Security Number – permanent work identification number </li></ul><ul><li>Money is deposited into your account throughout your life </li></ul><ul><li>Employer matches amount deducted from your paycheck </li></ul><ul><li>If self-employed, you pay both employee and employer share </li></ul><ul><li>At retirement, benefits are paid based upon how much you have paid into your account. </li></ul>
  5. 5. Request for Earnings and Benefit Estimate Statement <ul><li>Form which can be filled out for you to check and see that your earnings have been properly credited to your account. </li></ul><ul><li> </li></ul>
  6. 6. Work Permit Application <ul><li>Federal government and some states require work permit for minors </li></ul><ul><li>Form filled out before minor is allowed to work </li></ul><ul><li>Must have social security number and parent/legal guardian signature </li></ul>
  7. 7. Form W-2 <ul><li>This form is a summary of the income you earned during a particular year and all amounts the employer withheld for taxes </li></ul><ul><ul><li>Federal income tax </li></ul></ul><ul><ul><li>State income tax </li></ul></ul><ul><ul><li>Local income tax </li></ul></ul><ul><ul><li>Social security tax </li></ul></ul><ul><li>Must be provided no later than February 2 this year </li></ul><ul><li>W-2 forms must be filed with tax returns </li></ul>
  8. 8. <ul><li>Internal Revenue Service website: </li></ul><ul><li> </li></ul>
  9. 9. Employment Laws <ul><li>Department of Labor is responsible for overseeing labor laws. Main provisions of employment laws covering all workers do the following: </li></ul><ul><li>Establish minimum wage </li></ul><ul><li>Provide regular working hours </li></ul><ul><li>Provide unemployment, disability and retirement insurance benefits </li></ul><ul><li>Provide equal employment opportunities and prohibit discrimination </li></ul><ul><li>Establish safe working conditions </li></ul>
  10. 10. State minimum wages
  11. 11. Social Security <ul><li>Social Security Act – passed in 1935 – established a national social insurance program that provides federal aid for the elderly and for the disabled. </li></ul><ul><li>Medicare Provision added in 1965 and provides hospital and medical insurance for elderly retired workers and other qualified people. </li></ul>
  12. 12. Social Security (Cont.) <ul><li>Benefits received depends on contributions made </li></ul><ul><li>Social Security (FICA) is deducted from paycheck and sent to social security account. </li></ul><ul><li>Social Security tax rate is 6.2% of first $106,800 (for 2009) </li></ul><ul><li>Medicare tax rate is 1.45% with no wage base limit </li></ul><ul><li>Total = 7.65% </li></ul>
  13. 13. Unemployment Compensation <ul><li>Each state must have unemployment insurance program </li></ul><ul><ul><li>Provides benefits to workers who lose their jobs through no fault of their own </li></ul></ul><ul><ul><li>After waiting period, workers may collect a portion of their regular pay for a certain length of time </li></ul></ul><ul><ul><li>Premiums are paid by the employer </li></ul></ul>
  14. 14. Family & Medical Leave Act <ul><li>Passed in 1993 </li></ul><ul><li>Allows employee to take up to 12 weeks of unpaid, job-protected leave in a 12-month period for family and medical reasons </li></ul><ul><li>To be eligible, employee must have worked for the employer for at least 12 months. </li></ul><ul><li>Adequate reasons for using FMLA include birth and care of newborn child, including adoption, care of immediate family member with serious health condition, employee unable to work because of serious health condition </li></ul><ul><li>Applies to persons employing 50 or more employees for each working day during 20 or more weeks in year. </li></ul>
  15. 15. Laws Against Discrimination in Employment <ul><li>Equal Pay Act – prohibits unequal pay for men and women doing substantially similar work </li></ul>
  16. 16. <ul><li>Civil Rights Act of 1964 - Prohibits discrimination in hiring, training, and promotion on the basis of race, color, gender, religion or national origin. </li></ul><ul><li>Age Discrimination in Employment Act – Prohibits discrimination in employment decisions against people age 40 and over </li></ul><ul><li>Americans With Disabilities Act – Prohibits discrimination on the basis of physical or mental disabilities. </li></ul>
  17. 17. <ul><li>The End! </li></ul>