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In 1961, the company changed its name to Automatic Data Processing, Inc. (ADP), and began using punched card machines, check printing machines, and mainframe computers. ADP went public in 1961 with 300 clients, 125 employees, and revenues of approximately US$400,000. [3] The company established a subsidiary in the United Kingdom in 1965.
Air Passenger Duty charges take distance into account, making long distance flying significantly more expensive. [3] One of the stated benefits of APD was to offset the environmental impact of air travel (see below) although the tax takes no account of the efficiency of the aircraft and flows into general revenue. [4]
Taxpayer Identification Number. A Taxpayer Identification Number ( TIN) is an identifying number used for tax purposes in the United States and in other countries under the Common Reporting Standard. In the United States it is also known as a Tax Identification Number ( TIN) or Federal Taxpayer Identification Number ( FTIN ).
Federal Information Processing Standard state code. FIPS state codes were numeric and two-letter alphabetic codes defined in U.S. Federal Information Processing Standard Publication ("FIPS PUB") 5-2 to identify U.S. states and certain other associated areas. The standard superseded FIPS PUB 5-1 on May 28, 1987, and was superseded on September 2 ...
The tax code’s answer to the mommy wars? Providing at least a little of something to everyone.
Henry Taub (September 20, 1927 – March 31, 2011) [1] was an American businessman and philanthropist of Hungarian - Jewish descent who was a co-founder of ADP .
TurboTax is a software package for preparation of American and Canadian income tax returns, produced by Intuit. TurboTax is a market leader in its product segment, competing with H&R Block Tax Software and TaxAct. [1] TurboTax was developed by Michael A. Chipman of Chipsoft in 1984 and was sold to Intuit in 1993. [2] [3]
The character of any gains (including tax-favored capital gains) is transformed into "ordinary income" at the time the money is withdrawn. If the employee made after-tax contributions to the 401(k) account, these amounts are commingled with the pre-tax funds and simply add to the 401(k) basis.