Earned Income

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Sources of money derived from the labor, professional service, or entrepreneurship of an individual taxpayer as opposed to funds generated by investments, dividends, and interest.

Wages, salaries, and fees are types of earned income that, if below a statutorily determined amount, entitle a taxpayer to a reduction of Income Tax liability.

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income taxation to 300/0 of the annual earned income exclusion amount (as indexed for inflation); for 2006, that amount is $82,400. Sec. 911 housing guidance likely to reduce some employers' costs by Abdalian, Michael / The Tax Adviser citizens or residents living abroad have been allowed to exclude certain foreign earned income and housing costs from taxable income, regardless of whether any foreign tax is paid on these amounts, under IRC section 911. New rules for individuals working abroad: changes to income and ... by Laffie, Lesli S. / Journal of Accountancy Under the old law, for 2004, the child credit was refundable to the extent of 10 percent of the taxpayer's taxable earned income (which is taken into account in determining taxable income) in excess of $10,750 (indexed for inflation). 2004 Working Families Tax Relief Act: selected highlights by Josephs, Stuart R. / California CPA More results

References in periodicals archive

income taxation to 300/0 of the annual earned income exclusion amount (as indexed for inflation); for 2006, that amount is $82,400.

Sec. 911 housing guidance likely to reduce some employers' costs by Abdalian, Michael / The Tax Adviser

citizens or residents living abroad have been allowed to exclude certain foreign earned income and housing costs from taxable income, regardless of whether any foreign tax is paid on these amounts, under IRC section 911.

New rules for individuals working abroad: changes to income and ... by Laffie, Lesli S. / Journal of Accountancy

Under the old law, for 2004, the child credit was refundable to the extent of 10 percent of the taxpayer's taxable earned income (which is taken into account in determining taxable income) in excess of $10,750 (indexed for inflation).

2004 Working Families Tax Relief Act: selected highlights by Josephs, Stuart R. / California CPA

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