Employer contributions to qualified plans, excludible
by the employee, (40) can be viewed as income inclusions followed by offsetting deductions).
because the payment, though excludible
, would not reduce the
The other two changes describe exactly what type of injuries can give rise to excludible
damages; specifically, "physical injuries or physical sickness.
Interest = Total Interest income X Qualified Educational Expenses/Total Redemption Proceeds.
For C corporations, amounts deposited in this fund are not deductible for alternative minimum tax (AMT) purposes, and earnings as well as capital gains of the fund are not excludible
when calculating AMT.
Employer-provided cell phones are still a fringe benefit and must still meet certain requirements in order to be excludible
The court held that the $129,000 John received and returned to JMA was not excludible
The court held that the award was not excludible
In revenue ruling 2003-102, the service ruled that A's expenditures to purchase the OTC remedies were medical care expenditures; A's health FSA reimbursement for those costs was excludible
from gross income under section 105(b), even though the cost would not have been deductible under section 213(a).
It may well be argued in a federal proceeding that this information, otherwise excludible
by the federal privilege, can be disregarded, but this may be a difficult argument.
State aid is not an IRC section 102 gift, but is excludible
from income under section 139's general welfare exclusion rule.
On audit, they agreed that $91,406 of the gain should have been included in their gross income for 2000, but they asserted that the remaining gain of $500,000 was excludible
from their income under Sec.
In determining QEEs payable from an education IRA, total QEEs are first reduced by scholarships or fellowships excludible
from income under code section 117 and any other tax-free educational benefits.
If an employer's program qualifies, the educational assistance that is excludible
by the employee consists of any payments by an employer for expenses incurred by or on behalf of an employee for the education of the employee.
With more and more couples today opting to live together, it can be a shock to learn that some employer provided fringe benefits generally thought of as excludible
are actually includible in income.