Internal Revenue Code Section 117

In the case of education described in section 127 c 8 of the internal revenue code of 1986 as added by this section section 117 d of such code shall be treated as in effect on and after january 1 1984.

Internal revenue code section 117. Section 117 d 1 of the internal revenue code however provides a special rule in the case of a qualified tuition reduction section 117 d 1 provides that gross income shall not include any qualified tuition reduction section 117 d 2 defines a qualified tuition reduction as the amount of any. Generally section 117 d of the internal revenue code provides that a faculty or staff member employed by a school is not subject to federal income tax on a qualified tuition reduction qtr. Except as otherwise provided in this section or in section 117 relating to qualified scholarships gross income includes amounts received as prizes and awards.

2 for purposes of applying section 117 d 3 of the internal revenue code of 1954 now 1986 to all tuition reduction plans of an employer with at least 1 such plan described in paragraph 1 of this subsection there shall be excluded from consideration employees not included in the plan who are included in a unit of employees covered by an agreement that the secretary of the treasury or his delegate finds to be a collective bargaining agreement between employee representatives and 1. A reduction in tuition for education of the employee or his spouse. Qualified scholarships on westlaw findlaw codes are provided courtesy of thomson reuters westlaw the industry leading online legal research system.

A qtr is defined as. For purposes of applying section 117 d 3 of the internal revenue code of 1954 now 1986 to all tuition reduction plans of an employer with at least 1 such plan described in paragraph 1 of this subsection there shall be excluded from consideration employees not included in the plan who are included in a unit of employees covered by an agreement that the secretary of the treasury or his delegate finds to be a collective bargaining agreement between employee representatives and 1 or more. Table of contents retrieve by section number.

Internal revenue code section 117 d permits non profit educational institutions including colleges and universities to provide their employees spouses or dependents with tuition reductions that are excluded. Federal tax law begins with the internal revenue code irc enacted by congress in title 26 of the united states code 26 u s c.