3 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
Key employee
Accounting; Payroll
In the context of fringe benefit plans, an officer or owner (of all or a significant part) of a business whose annual pay exceeds a certain amount. Many benefits offered by employers do not qualify ...
Resident alien
Accounting; Payroll
In the context of payroll, an individual who passes either the “green card” or “substantial presence” test for determining resident status in the U.S. Resident aliens are generally subject to ...
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.
Expatriate
Accounting; Payroll
For U.S. payroll purposes, a U.S. citizen or resident alien who lives and works outside the U.S.
