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Category: FAQ's

What does ACH mean?

Here is a listed of the most common used acronyms in the payroll industry. 

ACH

Automated Clearing House

ADA

Americans with Disabilities Act

AEIC

Advanced Earned Income Credit

COBRA

Consolidated Omnibus Budget Reconciliation Act

DBA

Doing Business As

DOL

Department of Labor

DOR

Department of Revenue

EE

Employee

EEOC

Equal Employment Opportunity Commission

EFT

Electronic Funds Transfer

EFTPS

Electronic Federal Tax Payment System

EIC

Earned Income Credit

EIN

Employer Identification Number

ER

Employer

ERISA

Employee Retirement Income Security Act

FICA

Federal Insurance Contributions Act

FIT

Federal Income Tax

FLSA

Fair Labor Standards Act

FMLA

Family & Medical Leave Act

FTP

File Transfer Protocol

FUTA

Federal Unemployment Tax Act

ICESA

Interstate Conference of Employment Security Agencies

IRS

Internal Revenue Service

MAGI

Modified Adjusted Gross Income

MMREF

Magnetic Media Reporting & Electronic Filing

MSA

Medical Savings Account

NACHA

National Automated Clearing House Association

NAICS

North American Industrial Code System

OASDI

Old Age Survivors, Disability Insurance

OFI

Originating Financial Institution

OSHA

Occupational Safety and Health Administration

PIN

Personal Identification Number

POA

Power of Attorney

POP

Premium Only Plan

PTO

Paid Time Off

QTD

Quarter-to-Date

SIC

Standard Industrial Code

SIT

State Income Tax

SS

Social Security

SSA

Social Security Administration

SSN

Social Security Number

SUI

State Unemployment Insurance

SUTA

State Unemployment Tax Act

TEFRA

Tax Equity Fiscal Responsibility Act

TFB

Taxable Fringe Benefit

TIN

Taxpayer Identification Number

VPD

Variable Pay by Department

YTD

Year-to-Date

3PSP

Third Party Sick Pay