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Workers' Compensation Audit | We Address All Your Needs

A workers’ compensation audit is an assessment and evaluation of your company’s payroll during the time your insurance provided compensation to a worker for many reasons.

After hiring a new employee, the first thing an employer must do is file for insurance for their workers so that the worker can be looked after in case of any minor or major injury. It also protects the employer from liability as the insurance covers the cost. Most states make it compulsory that an employer do workers’ compensation insurance. Independent contractors and freelancers are usually exempt from this.

The state government can ask any company to show their records and data of any worker’s compensation that they have provided.

To understand worker’s compensation audits, all employers must fully understand workers’ compensation in NYC to successfully deal with the state laws. If you find it challenging to manage, Tax King Service provides you with required workers’ compensation audit services in New York.

So, let us learn how workers comp audit in New York!

Understanding Workers Compensation Insurance Audit in NYC

Workers’ compensation provides a specific amount through insurance to your employee in case of any harm or injury during work. Workers’ compensation can be provided if:

  • The employee is injured due to work in the workplace.
  • The employee is injured because he is outside the premises to perform his office task.
  • The employee is majorly injured and faces permanent disability that decreases his standard of living.
  • The employee dies while at work. In this case, remuneration is provided to the employee’s family.

The procedure to prepare your business for workers' compensation audit

After getting all information about workers' compensation insurance, you must identify workers' responsibilities, so they get the correct amount. Tax King Service helps you take care of this responsibility.
All insurance providers have their own requirements. Tax King Inc. helps you find your required insurance and identify the documents to submit to the insurance company that suits your business the most.
It is where we help you the most. Every business owner must be aware of his business's position, and taking part in the audit process enables you to make it possible. Tax King also reviews to remove discrepancies.

Types of Workers' Compensation Audit in New York

Mail Audit

It is suitable for small business owners. Exemptions are only for those that face more threats like construction.

Preliminary Audit

These on-site audits are required to include valid policies, especially when implementing a new policy.

Telephone Audit

When the insurer takes information from a business, you can engage the auditors of Tax King over the phone.

Field Audit

To conduct an on-premises audit, this audit is required. It is the best for engineering and construction companies.

Interim Audit

Tax King Service provides interim audits via mail or in person for companies that prefer to maintain more minor records.

Test Audit

State workers' compensation authorities conduct this audit to ensure your business uses the correct insurance rates.

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Understanding Workers’ Compensation Insurance NYC: A Complete Guide

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