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

Levy

Accounting; Payroll

An attachment to satisfy a tax debt or a court judgment.

Internal audit

Accounting; Payroll

An audit of a business’s policies, procedures, operations and records carried out by employees of the business as opposed to outside parties.

Foreign earned income exclusion

Accounting; Payroll

An election by a U.S. citizen or resident alien working abroad to exclude up to a certain amount of foreign earned income from the taxpayer’s gross income.

Professional employer organisation (PEO)

Accounting; Payroll

An outside organisation hired to assume responsibility for some or all HR administration and compliance operations.

Local national

Accounting; Payroll

An employee who works in the country where his home base is located, even though the employee may actually be a citizen of another country.

Safe-harbor

Accounting; Payroll

An IRS-approved alternative method (usually a short-cut) for complying with IRS rules, regulations, and procedures 9e.g., per diem allowances and high-low substantiation.

An unemployment insurance financing system that allows employers to pay back to the state unemployment trust fund any benefits paid to their former employees, rather than paying a tax based on their ...