2 Terms
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Payroll
Of or relating to the financial record of employees' salaries, wages, bonuses, net pay, and deductions.
Industry: Accounting
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Payroll
shift differential
Accounting; Payroll
Extra pay received by employees for working a less-than-desirable shift (e.g., evenings or late nights).
internal revenue service (the service)
Accounting; Payroll
Federal agency charged with interpreting, implementing and enforcing the tax laws of the U.S.
internal revenue code (IRC)
Accounting; Payroll
Federal tax laws. Generally referred to as the Internal Revenue Code of 1986, which was the year of the latest major overhaul of the Code. The IRC also comprises Title 26 or the United States Code.
adoption assistance
Accounting; Payroll
Financial benefit provided by an employer to an employee to help with the child adoption process. Within certain limitations, it is excluded from federal income tax withholding, though not social ...
receiving depository financial institution (RDFI)
Accounting; Payroll
Financial institution that qualifies to receive direct deposit entries from an Automated Clearing House.
federal income tax withholding (FITW)
Accounting; Payroll
FIT withheld from an employee’s wages when they are paid.
covered employees
Accounting; Payroll
For each law affecting payroll and human resources, this term defines those workers who are subject to the law.
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