IRS Issue Snapshot: Income Exclusion for Qualified Tuition Reduction Programs (IRC §117)

Whether a tuition reduction is a qualified tuition reduction and excludible from income discussed in IRS issue snapshot released January 24. The IRS provides guidance and resources on tax code Section 117(d)(1) allowing employees of certain educational institutions, including nonprofit universities and colleges, to exclude from gross income qualified undergraduate tuition reduction they, their spouse, or their dependent children receive from the employee’s employer. The IRS identifies issue indicators and audit tips. [IRS Issue Snapshot: Qualified Tuition Reduction]

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