The new rules eliminate the tax exclusion for such achievement awards as the Nobel and Pulitzer prizes.
Replacing the tax exclusion with a flat tax credit would be a much better approach.
Moreover, if a cut in the tax exclusion did cause some people to lose their insurance, the recently enacted health care reform would offer a buffer.
This tax exclusion was clearly important to the Messers, who sold their home for $1.14 million.
Tax writers restored the tax exclusion for tuition payments made under company-sponsored educational assistance programs.
This essentially replaces the tax exclusion for health care benefits presently paid by employers.
I am over 55 years old and want to take the one-time $125,000 tax exclusion on the gain in the sale.
Senator Conrad didn't rule it out, though he prefers ending the tax exclusion for employer provided health benefits.
One tax break that the committee refused to extend was the tax exclusion for company-sponsored group legal services plans.
Allowing for the tax exclusion on clothing under $75, he said, the state would lose up to $61 million in tax revenue.