The Tax Character of an Item of Income Can Change

question 71

True/False

The tax character of an item of income can change when Congress amends the tax law.

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Definitions:

Embryonic Development

The series of biological changes that occur in the early stages of an organism's life, leading to its mature form.

Blastocyst

An early stage of embryonic development in mammals, characterized by a sphere of cells surrounding a fluid-filled cavity and the inner cell mass that will develop into the embryo.

Blastula

An early stage in embryonic development in animals, characterized by a sphere of cells (blastomeres) surrounding a fluid-filled cavity (blastocoel).

Embryonic Development

The process by which an embryo forms and develops, from the fertilization of the ovum to the fetal stage of development.