An obligee is a person to whom money is owed.
An obligor is a person who owes money to an obligee.
If an employer's accumulated employment tax liability reaches $100,000 on any day during a monthly or semiweekly deposit period, the taxes must be deposited by the close of the next banking day. See also accelerated deposit rule.
An ODFI is a financial institution that is qualified to initiate deposit entries submitted by an employer as part of the direct deposit process.
These are hours worked by nonexempt employees in excess of maximums set by federal or state law that must be compensated at a premium rate of pay. Under the Fair Labor Standards Act, all hours worked over 40 in a workweek must be paid at not less than 150% times the employee's regular rate of pay.
This is the amount equal to half of an employee's regular rate of pay times all overtime hours worked.