Illegal Immigration Reform and Immigrant Responsibility Act of 1996 (IIRIRA)
A fact act protecting employers from liability as long as they make a good-faith effort to verify a new employee's
identity and employment eligibility.
Immigration Reform and Control Act of 1986
A federal act that requires all employers, employing at least four workers, to verify the identity and employment
eligibility of all regular, temporary, casual, and student employees.
Incentive Stock Option
An option to purchase company stock that is not taxable to the employee at the time it is granted, nor at the time
when the employee eventually exercises the option to buy stock.
Individual Retirement Account (IRA)
A personal savings account into which a set maximum amount may be contributed, and for which any resulting interest
is tax-deferred.
Individual Retirement Annuity
An IRA comprised of an annuity that is managed through and paid out by a life insurance company.
Internal Revenue Code
Refers to all federal tax laws as a group.
Internal Revenue Service (IRS)
The federal agency that is empowered .
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