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Internal Revenue Code of 1986

The main body of federal tax law in the United States, which outlines how income is taxed.

Gross income

The total amount of money and value you receive from all sources before any deductions or taxes are taken out.

Overtime compensation

Extra pay earned for working beyond standard work hours, typically at a higher rate (like "time and a half").

Fair Labor Standards Act of 1938

A federal law that sets minimum wage, overtime pay, recordkeeping, and youth employment standards affecting full-time and part-time workers in the private sector and in federal, state, and local governments.

Enactment

The process by which a bill becomes a law, usually after being passed by both houses of Congress and signed by the President.