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Payroll

Of or relating to the financial record of employees' salaries, wages, bonuses, net pay, and deductions.

Contributors in Payroll

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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