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

Employee verification service (EVS)

Accounting; Payroll

Service offered by the Social Security Administration allowing employers to verify the accuracy of their employee’ social security numbers by sending in a paper listing, magnetic tape or diskette of ...

Rehabilitation Act of 1973

Accounting; Payroll

A federal law prohibiting discrimination against qualified disabled individuals by federal government contractors and grantees.

Federal Insurance Contributions Act (FICA)

Accounting; Payroll

Also describes the combined taxes levied for social security and Medicare.

218 Agreement

Accounting; Payroll

An agreement between a state or local government employer and the state social security agency under which the employees are subject to social security and Medicare coverage.

457 Plan

Accounting; Payroll

An annuity or mutual fund that provides retirement income for employees of public sector employers (e.g., state and local governments).

Form W-5

Accounting; Payroll

Earned Income Credit Advance Payment Certificate; must be filed by employees who want to take advantage of advance EIC payments and which attests to their eligibility for the advance payments.

Form W-4

Accounting; Payroll

Employee’s Withholding Allowance Certificate; federal (or an equivalent state or local) form on which the employee states the number of withholding allowances he or she claims. The form is used by ...