34 Terms
Home > Industry/Domain > Accounting > Payroll
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
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.
Employment verification
Accounting; Payroll
Process of determining whether a newly hired employee is authorised to work in the United States under the Immigration Reform and Control Act.
Child support withholding
Accounting; Payroll
Process of withholding amounts from an employee’s compensation to satisfy a child support order from a court or a state child welfare administrative agency. The employer is responsible for ...
Batch processing
Accounting; Payroll
Processing data as a group, either to increase controls or processing efficiency.
Online processing
Accounting; Payroll
Processing performed under direct control of the computer (can be batch or realtime)
Revenue rulings
Accounting; Payroll
Published decisions issued by the IRS that apply the tax laws to a particular set of facts. They can be used by taxpayers to determine their tax liability in similar factual situations.
