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

Public sector employer

Accounting; Payroll

An employer that is a state or local governmental unit (e.g., county, town, village) or a political subdivision of such a unit (e.g., school district).

Garnishee

Accounting; Payroll

An employer that receives an order requiring withholding from an employee’s wages to satisfy a debt. A garnishee can also be a debtor against whom a creditor has brought a process of garnishment.

Positive account employer

Accounting; Payroll

An employer whose state unemployment tax contributions are more than the benefits charged to its unemployment reserve account.

Negative account employer

Accounting; Payroll

An employer whose state unemployment tax payments are less than the benefits charged to it unemployment reserve account.

Nonaccountable plan

Accounting; Payroll

An employer’s business expense reimbursement plan that does not meet the requirements regarding business connection, substantiation, and returning excess amounts. Payments made under the plan are ...

Accountable plan

Accounting; Payroll

An employer’s business expense reimbursement plan that satisfies all IRS requirements regarding substantiation, business connection, and return of excess amounts in a reasonable period of time.

Foreign housing cost exclusion

Accounting; Payroll

An exclusion from income for reasonable foreign housing expenses exceeding a base housing amount that is available to U.S. employees working abroad whose tax home is not in the U.S.