IRS Publication 525 - Taxable And Nontaxable Income

AAA

DEFINITION of 'IRS Publication 525 - Taxable And Nontaxable Income'

A document published by the Internal Revenue Service (IRS) detailing what types of income taxpayers should consider taxable or nontaxable when filing a return. IRS Publication 525 outlines how employees are to treat income from retirement plans, stock options and fringe benefits; how certain employee types, such as military personnel and clergy, report income; how to report income from business partnerships or investment real estate; how to treat disability, sickness and other benefits.

INVESTOPEDIA EXPLAINS 'IRS Publication 525 - Taxable And Nontaxable Income'

A taxpayer's income can come from a number of sources other than regular employment, and can include exchanges of property or even bartering. Unless a type of income is specifically exempted from taxation by law, it will be considered taxable income.

RELATED TERMS
  1. Exempt Income

    Certain types or amounts of income not subject to federal income ...
  2. Income Tax

    A tax that governments impose on financial income generated by ...
  3. Internal Revenue Service - IRS

    A United States government agency that is responsible for the ...
  4. Taxable Income

    The amount of income that is used to calculate an individual's ...
  5. Tax Return

    1. The tax form or forms used to file income taxes with the Internal ...
  6. Section 7702

    The section of the United States Internal Revenue Code that defines ...
Related Articles
  1. Personal Finance

    How and where is revenue recognized from barter transactions?

    Find out how the IRS requires companies that engage in barter transactions to recognize the revenue from such transactions and record journal entries.
  2. 10 Steps To Tax Preparation
    Taxes

    10 Steps To Tax Preparation

    Follow these simple steps to get you ready for the income tax deadline of April 15.
  3. Retirement

    Tax Tips For The Individual Investor

    We give you seven guidelines to help you keep more of your money in your pocket.
  4. Taxes

    How To Appeal Your IRS Audit

    The auditor's review isn't always the last word. Many taxpayers who are audited can successfully appeal their audits and save thousands of dollars.
  5. Taxes

    Avoiding A Big Tax Bill On Real Estate Gains

    Installment sales allow sellers to defer taxes on real estate profits.
  6. Taxes

    Surviving The IRS Audit

    Keeping thorough records and knowing the penalties make this experience easier than you'd expect.
  7. Options & Futures

    What are the most common momentum oscillators used in options trading?

    Read about some of the most common technical momentum oscillators that options traders use, and learn why momentum is a critical concept for options trading.
  8. Investigate these expat havens if you seek a developed country with low barriers for getting a permanent resident visa – sometimes even citizenship.
    Personal Finance

    5 Developed Countries That Welcome Expats

    Investigate these expat havens if you seek a developed country with low barriers for getting a permanent resident visa – sometimes even citizenship.
  9. Free enterprise is the economic term used to describe an economy with very little government ownership.
    Economics

    What's Free Enterprise?

    Free enterprise is the economic term used to describe an economy with very little government ownership or regulation. In a free enterprise system, competition and the preferences and choices ...
  10. Some countries put up very high barriers for foreigners to get citizenship
    Personal Finance

    5 Countries Where It's Hardest To Become A Citizen

    The United States is one of five countries that put up very high barriers for foreigners to get citizenship. Here's how it compares to the other four.

You May Also Like

Hot Definitions
  1. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  2. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  3. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  4. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  5. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
  6. Annual Percentage Rate - APR

    The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents ...
Trading Center