Chapter 11 – Payroll Taxes, Deposits, and Reports
Chapter 11
Payroll Taxes, Deposits, and Reports
1. The frequency of deposits of federal income taxes withheld and social security and
Medicare taxes is determined by the amount owed.
2. For the purpose of internal control, only the person who prepares payroll checks should
distribute them.
3. To achieve internal control over payroll operations, no changes in employee pay rates
should be made without written authorization from management.
