Payroll

Payroll

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

Industry: Accounting

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Payroll

individual taxpayer identification number (ITIN)

Accounting; Payroll

A tax reporting identification number issued to aliens in the U.S. who cannot get a social security number but are required to file a tax or information return with the IRS.

no-additional cost services

Accounting; Payroll

A tax-free fringe benefit for employees consisting of free services offered by an employer at not substantial additional cost to the employer.

electronic federal tax payment system (EFTPS)

Accounting; Payroll

A tax-payment system offered by the U.S. Department of Treasury that allows the payment of federal taxes electronically and free of cost.

interactive voice response (IVR)

Accounting; Payroll

A telephone system that allows employees to make changes by touch-tone phone to their payroll and/or personal data.

full time equivalent (FTE)

Accounting; Payroll

A term used to describe the time or effort expected relative to a full time appointment (which is 1.00 FTE)

individual retirement arrangement

Accounting; Payroll

A trust created or organized for the exclusive benefit of an individual or his or her beneficiaries.

savings incentive match plans for employees of small employers (SIMPLE) plans

Accounting; Payroll

A type of defined contribution plan for employers with 100 or fewer employees that can be set up as a 401(k) or IRA. The plan allows pretax employee contributions and mandatory employer-matching ...