Payroll Vocabulary Explained

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

147c letter

Understanding the 147C Letter: What It Means and How It Works The 147C letter is an official document issued by the Internal Revenue Service (IRS) upon request, used to confirm

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ABA routing number

What Is an ABA Routing Number? Understanding ABA Routing NumbersAn ABA routing number, also referred to as a routing transit number (RTN), is a unique nine-digit code used to identify

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Annual wage

What Does “Annual Wage” Mean? Definition of Annual WageAn annual wage refers to the total amount of money an employee is expected to earn over the course of a year.

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After-tax deductions

What Are Post-Tax Deductions? (aka after-tax deductions) Definition of Post-Tax DeductionsPost-tax deductions, also known as after-tax deductions, refer to the amounts subtracted from an employee’s paycheck after taxes and any

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