Payroll Audit Checklist
REVERIFY CONSULTING 2026 Tax Year0%
Audit Score
Overall Progress
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Sec A: Setup
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Sec B: Processing
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Sec C: Tax
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Sec D: Benefits
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Sec E: Records
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High Risk Unchecked
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Medium Risk Unchecked
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Low Risk Unchecked
Add Audit Finding
| # | Finding | Risk | Section | Status | Responsible | Target Date | Actions |
|---|
No findings recorded yet. Add your first finding using the form above.
Federal Thresholds & Limits (2026 Est.)
| Federal Minimum Wage | $7.25/hr |
| Social Security Wage Base | $176,100 |
| Social Security Tax Rate (Employee) | 6.2% |
| Social Security Tax Rate (Employer) | 6.2% |
| Medicare Tax Rate (EE + ER each) | 1.45% |
| Additional Medicare Threshold | $200,000 |
| Additional Medicare Rate | 0.9% |
| FUTA Wage Base | $7,000 |
| FUTA Gross Tax Rate | 6.0% |
| Maximum FUTA Credit | 5.4% |
| Net FUTA Rate (after credit) | 0.6% |
| Supplemental Wage Flat Rate | 22% |
| Supplemental Wage Rate (over $1M) | 37% |
Retirement & Benefit Limits (2026 Est.)
| 401(k) / 403(b) Elective Deferral | $23,500 |
| 401(k) Catch-Up (Age 50+) | $7,500 |
| 401(k) Total with Catch-Up (50+) | $31,000 |
| 401(k) Super Catch-Up (60-63) | $11,250 |
| Defined Contribution Annual Limit | $70,000 |
| HSA - Individual Coverage | $4,300 |
| HSA - Family Coverage | $8,550 |
| HSA Catch-Up (Age 55+) | +$1,000 |
| Health Care FSA | $3,300 |
| FSA Carryover Maximum | $660 |
| Dependent Care FSA (MFJ) | $5,000 |
| GTL Imputed Income Threshold | $50,000 |
| Qualified Transportation / Parking | $325/mo |
Standard Deductions (2026 Est., W-4 Context)
| Single / Married Filing Separately | $15,000 |
| Married Filing Jointly | $30,000 |
| Head of Household | $22,500 |
| Additional (Age 65+ / Blind, Single) | $2,000 |
| Additional (Age 65+ / Blind, MFJ) | $1,600 |
State Minimum Wages (Top 15, 2026 Est.)
| State / Jurisdiction | Min. Wage |
|---|---|
| Washington | $17.28 |
| California | $16.50 |
| New York (NYC / LI / Westchester) | $16.50 |
| Connecticut | $16.35 |
| Illinois (Chicago) | $16.20 |
| Oregon (Portland Metro) | $15.95 |
| Massachusetts | $15.75 |
| New Jersey | $15.49 |
| Arizona | $15.00 |
| Maryland | $15.00 |
| Colorado | $14.81 |
| Maine | $14.65 |
| Vermont | $14.50 |
| Rhode Island | $14.00 |
| Delaware | $13.25 |
Key Filing Deadlines
| Form / Filing | Deadline |
|---|---|
| Form 941 (Q1 - Jan-Mar) | April 30 |
| Form 941 (Q2 - Apr-Jun) | July 31 |
| Form 941 (Q3 - Jul-Sep) | October 31 |
| Form 941 (Q4 - Oct-Dec) | January 31 |
| Form 940 (Annual FUTA) | January 31 |
| Form 943 (Agricultural) | January 31 |
| W-2 / W-3 to SSA | January 31 |
| W-2 to Employees | January 31 |
| 1099-NEC to IRS & Recipients | January 31 |
| 1094-C / 1095-C to IRS (paper) | February 28 |
| 1094-C / 1095-C to IRS (e-file) | March 31 |
| 1095-C to Employees | March 2 |
| State Quarterly Wage Reports | Varies (typically 30 days after quarter end) |
| FUTA Quarterly Deposit (if >$500) | Last day of month following quarter end |
IRS Penalty Reference
| Violation | Penalty Amount |
|---|---|
| Failure to File Info Return (0-30 days late) | $60 per form |
| Failure to File Info Return (31 days - Aug 1) | $120 per form |
| Failure to File Info Return (after Aug 1) | $310 per form |
| Intentional Disregard of Filing | $630 per form (no cap) |
| Failure to Deposit (1-5 days late) | 2% of deposit |
| Failure to Deposit (6-15 days late) | 5% of deposit |
| Failure to Deposit (16+ days late) | 10% of deposit |
| Failure to Deposit (10+ days after IRS notice) | 15% of deposit |
| Worker Misclassification (non-willful, Sec. 3509) | 1.5% of wages + 20% of EE FICA |
| Worker Misclassification (willful) | Full ER + EE taxes + penalties + interest |
| Trust Fund Recovery Penalty (TFRP) | 100% of unpaid trust fund taxes |
| Failure to Furnish Payee Statement | $310 per statement |
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Internal Control Score
Disclaimer: This payroll audit checklist is provided for informational and educational purposes only by ReVerify Consulting. It does not constitute legal, tax, or accounting advice. Payroll tax laws and regulations change frequently and vary by jurisdiction. Always consult with a qualified tax professional, CPA, or employment law attorney for guidance specific to your organization. ReVerify Consulting assumes no liability for actions taken based on this checklist. Thresholds, limits, and rates shown are estimates for the 2026 tax year and should be verified against official IRS publications and state agency guidance before reliance.