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

Aggregate method

Accounting; Payroll

Method of withholding federal income tax from supplemental wages in which the supplemental wage payment is combined with the regular wages paid during the most recent payroll period; after ...

Money, other than basic pay, that compensates for expenses such as meals, rent, clothing and travel. The term can also apply to compensation that is given to an employee for maintaining proficiency ...

Revenue procedures

Accounting; Payroll

Official statements from the IRS on how to carry out tax compliance.

Escheat

Accounting; Payroll

In the context of payroll, the turning over of unclaimed wages to the state after a period of time determined by state law.

White collar employees

Accounting; Payroll

In the context of the Federal Wage-Hour Law, these are executive, administrative, professional (including computer related professionals), or outside sales employees who are exempt from the law’s ...

Benefit wages

Accounting; Payroll

In the context of unemployment compensation, an amount charged to an employer’s account when a former employee receives unemployment benefits. The amount is determined by the base period wages paid ...

Experience rating

Accounting; Payroll

In the context of unemployment compensation, it is the employer’s past record of unemployment claims activity. This past record can then be used to determine the employer’s unemployment tax rate ...