Income exclusion rule

Income exclusion rule

The IRS rule that excludes certain types of income from taxation, e.g., welfare payments.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Income Exclusion Rule

An IRS rule stating that certain income is always tax-exempt. Examples of income falling under the income exclusion rule are welfare payments, child support, and coupons from municipal bonds.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
The members would not be able to exclude any part of the gain at the individual level via the income exclusion rules of Sec.
Benefits paid from a WBP trust are subject to the same income exclusion rules that apply to benefits paid directly by an employer.
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