Pub. 2 2020 Issue 1

PETE SHEFFER WCT DIRECTOR Time to Get Your 2019 Payroll Figures Together, TheWC Auditors are Coming T o accurately calculate a members premium, the NHADA WCT must per- form an audit to determine members’ actual payroll figures for the previous year. We have decided to use one auditing firm this year to keep the audits consistent. NEIS will be performing these audits beginning in January for NHADA Workers Compensation Trust mem- bers. This annual audit is critical. The auditors will be reviewing the 2019 final payroll figures to determine how accurately member’s estimated their payroll figures. Audits are performed beginning in January and must be completed by March 25. Once all audits are complete, we can begin the process of calculating rebates. Members can assist in this process by scheduling the audit soon, preparing for the audit, and promptly meeting with the auditor on the agreed upon day and time. The auditors charge NHADA by the hour, so if they are kept waiting to meet with the member or have to wait for information, the audit will cost more. This cost is passed directly on to the members through increased administrative costs, adversely affecting rebates. When the auditor performs the payroll audit, he/she will need to review the general ledger, payroll records and at least three-quarters of the mem- ber’s filed, quarterly tax returns (IRS D R I V E 10