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Payroll GlossaryA B C D E F G H I J K L M N O P Q R S T U V W X Y ZBackup Withholding - For non-employee compensation, income withholding is required when the payee happens to fail to furnish the payee with a taxpayer identification number(TIN). Sometimes the payer may be contacted by the IRS that the TIN is incorrect.Base Period - The base period is considered to be 52 weeks or the last four quarters. Base Period Wages - These are wages that are earned during the base period. The base payment amount is used to determine a claimants eligibility if they get compensated for unemployment. |
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