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exemption

A direct reduction taken from taxable income for a specific reason, as allowed by the IRS.

Related information about exemption:
  1. Exemption - Wikipedia, the free encyclopedia
    An exemption such as a tax exemption allows a certain amount of income or other value to be legally excluded to avoid or reduce taxation. Exemption may also ...
     
  2. Tax exemption - Wikipedia, the free encyclopedia
    Various tax systems grant a tax exemption to certain organizations, persons, income, property or other items taxable under the system. Tax exemption may also ...
     
  3. exemption - definition of exemption by the Free Online Dictionary ...
    ex·emp·tion ( g-z mp sh n). n. 1. The act or an instance of exempting. 2. The state of being exempt; immunity. 3. One that is exempted, especially an amount of ...
     
  4. Exemption | Define Exemption at Dictionary.com
    the circumstances of a taxpayer, as age or number of dependents, that allow him or her to make certain deductions from taxable income. 2. the act of exempting.
     
  5. Exemption - Merriam-Webster Online
    the act of exempting or state of being exempt : immunity. 2. : one that exempts or is exempted; especially : a source or amount of income exempted from taxation ...
     
  6. Exemption Requirements - Section 501(c)(3) Organizations
    Nov 2, 2012 ... Exemption Requirements - Section 501(c)(3) Organizations. To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, ...
     
  7. Where Is My Exemption Application?
    Oct 25, 2012 ... Sometimes, representatives of exempt organizations and practitioners question why certain applications for tax exemption are processed faster ...
     
  8. Automatic Revocation of Exemption
    Section 6033(j) of the Internal Revenue Code automatically revokes the exemption of any organization that fails to satisfy its filing requirement for three ...