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