Examlex
________ are payments made to groups or individuals when no good or service is received in return.
Social Security Benefits
Payments made to eligible individuals from the government, intended to support retirees, disabled persons, and survivors of deceased workers.
Taxability
The condition of being subject to taxes; applicable to income, goods, services, and transactions that can be taxed.
NonTaxable Income
Income that is not subject to taxation by the IRS or state tax authorities; examples include certain gifts, inheritances, and some types of insurance payouts.
Compensation
This represents payment or benefits provided to an employee or executive by an employer for services rendered.
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