Payroll Vocabulary Explained
NACHA, short for the National Automated Clearing House Association, manages the ACH network, the system responsible for handling billions of electronic payments across the United States. It establishes the standards
Medicare is a federally funded health insurance program designed to assist specific groups of Americans with healthcare costs. It primarily serves individuals aged 65 and older, as well as certain
Minimum wage refers to the lowest hourly pay that employers are legally allowed to provide eligible employees. This rate is established by the federal government, although individual states and local
A levy is a legal action that allows government agencies, such as the IRS, state revenue departments, or financial institutions—to seize a person’s property or assets to settle unpaid tax
