While Payments Received Because a Person Has Been Physically Injured

question 61

True/False

While payments received because a person has been physically injured are excluded from gross income,payments on account of non-physical injury must be included in gross income.

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Definitions:

Electricity

A form of energy resulting from the existence of charged particles such as electrons or protons, manifesting as an attraction or repulsion between those particles.

Fireside Chats

A series of evening radio addresses given by U.S. President Franklin D. Roosevelt between 1933 and 1944 to communicate directly with the American people about issues and policies.

Economic Security

A state where individuals have the confidence that they will have the resources to meet their basic needs without undue hardship.