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The Employee Retention Credit (ERC) is a U.S. federal tax credit for certain employers affected by the COVID-19 pandemic. It was available from March 2020 to September 2021, and it was based on qualified wages paid to eligible employees.
The Paycheck Protection Program (PPP) is a $953-billion business loan program in the U.S. to help certain entities pay their workers during the COVID-19 pandemic. The loan may be partially or fully forgiven if the entity maintains its employee counts and wages, and the program was implemented by the Small Business Administration.
FICA is a federal tax that employees and employers pay to fund benefits for retirees, people with disabilities, and children of deceased workers. FICA consists of two parts: OASDI for Social Security and HI for Medicare. Learn how FICA is calculated, who pays it, and how it differs from income tax.
Payroll tax is a tax imposed on employers or employees based on their salaries. Learn about the different types, rates, and deductions of payroll tax in various countries, such as Australia, Austria, Bermuda, Brazil, Canada, China, Croatia, and more.
Payroll is a list of employees and their compensation, as well as the records and taxes of payments made to them. Learn about payroll frequency, gross pay, deductions, reimbursements, taxes, and wage garnishments, and how to outsource payroll processing.
AOL Mail offers secure and personalized email with features like AOL Mail, news, and weather for free. You can also access your email on the go with an iOS & Android app and get help from experts.
The Middle Class Tax Relief and Job Creation Act of 2012 (Pub. L. Tooltip Public Law (United States) 112–96 (text), H.R. 3630, 126 Stat. 156, enacted February 22, 2012), also known as the "payroll tax cut", was an Act of the United States Congress.
Employee benefits are non-wage compensation provided to employees in addition to their normal wages or salaries. They can be mandated by regulation or discretionary, and include housing, insurance, retirement, tuition, leave, and other benefits.
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