PROVISIONAL INCOME

This income is achieved by adding gross income, interest that is tax free, 50% of benefits from social security and subtracting the necssary adjustment amount. This amount is then used by the IRS to determine if any taxes will need to be paid.

More On This Topic



Link to This Definition
Did you find this definition of PROVISIONAL INCOME helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary