5 Terms
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Payroll
Of or relating to the financial record of employees' salaries, wages, bonuses, net pay, and deductions.
Industry: Accounting
Add a new termContributors in Payroll
Payroll
Severance pay
Accounting; Payroll
A payment offered by some employers to terminated employees (usually those who are terminated through no fault of their own) that is designed to tide them over until new employment is secured.
Statute of limitations
Accounting; Payroll
A period of time established by law during which parties can take legal action to enforce their legal rights.
Wage continuation sheet
Accounting; Payroll
A periodic report (e.g., quarterly) from employers to state unemployment agencies containing employees’ names, total wages, and unemployment taxable wages.
Tax protection plan
Accounting; Payroll
A plan offered by an employer to an employee working abroad that would guarantee the employee a foreign tax obligation no larger than he or she would have in the U.S.
Tax equalisation plan
Accounting; Payroll
A plan offered by an employer to an employee working abroad that would provide the employee with the same take-home pay he or she would have in the U.S.
Private delivery service (PDS)
Accounting; Payroll
A private sector company that delivers packages. If their services are “designated” by the IRS, materials delivered to them by a taxpayer for delivery to the IRS are considered postmarked on the ...
Wage-bracket withholding method
Accounting; Payroll
A procedure for calculating the amount of federal income tax to be withheld from an employee’s wages based on wage-bracket tables classified by the employee’s marital status and payroll period.
