Payroll Vocabulary Explained

We break down payroll’s complex terms from A to Z for easy understanding.

W-4 Tax Form

A W-4 form is an IRS-required document that new hires must complete so their employer knows how much federal income tax to withhold from their paycheck. It plays a key

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W-2 Tax Form

A W-2 form is a federal tax document prepared by an employer that outlines an employee’s total earnings for the prior year. Commonly referred to as the Wage and Tax

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Volunteer time off (VTO)

Volunteer time off, often referred to as VTO, is a paid leave benefit that allows employees to step away from work to contribute their time to charitable and community-focused organizations.

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Voluntary time off (VTO)

Voluntary time off (VTO) refers to unpaid leave that employees can choose to take, allowing them to step away from work temporarily while maintaining their job status and access to

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