Payroll audit checklist.* Do you have instant access to your quarterly payroll reports?Yes No Not sure * Do you have copies of all the form 940 (federal unemployment taxes) and form 941 (federal taxes and Federal Insurance Contribution Act [FICA FICA abbr. Federal Insurance Contributions Act Noun 1. FICA - a tax on employees and employers that is used to fund the Social Security system income tax - a personal tax levied on annual income ]) deposits you made with the federal government? Yes No Not sure * Do you store I-9 forms (immigration immigration, entrance of a person (an alien) into a new country for the purpose of establishing permanent residence. Motives for immigration, like those for migration generally, are often economic, although religious or political factors may be very important. and naturalization naturalization, official act by which a person is made a national of a country other than his or her native one. In some countries naturalized persons do not necessarily become citizens but may merely acquire a new nationality. employment eligibility) separately from payroll records? Yes No Not sure * Do you have a system for computing federal withholding and FICA taxes? Yes No Not sure * Do you properly record monies withheld for 401(k) or other deferred-compensation plans? Yes No Not sure * Do you have current figures available for workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. funds paid out? Yes No Not sure |
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