IRS List of Income Which IS NOT Taxable

Yes, the title of this post is correct. There are certain incomes which ARE NOT taxable. Read below the 411 the IRS sent out.

The IRS offers the following list of items that do not have to be included as taxable income:

Adoption expense reimbursements for qualifying expenses

Child support payments

Gifts, bequests and inheritances

Workers' compensation benefits (some exceptions may apply; see Publication 525, Taxable and Nontaxable Income)

Meals and lodging for the convenience of your employer

Compensatory damages awarded for physical injury or physical sickness
Welfare benefits

Cash rebates from a dealer or manufacturer