taxable income References taxable income Ask Anything Homework Help Written by The Information Architects of Encyclopaedia Britannica The Information Architects maintain a master list of the topics included in the corpus of Encyclopædia Britannica, and create and manage the relationships between them. The Information Architects of Encyclopaedia Britannica Britannica AI Ask Anything Learn about this topic in these articles: phantom incomePhantom income is taxable income that must be reported to the Internal Revenue Service even though no cash has been received. It typically occurs when you recognize income for tax purposes as it accrues, rather than when it is paid out. Read MorePhantom income is taxable income that must be reported to the Internal Revenue Service even though no cash has been received. It typically occurs when you recognize income for tax purposes as it accrues, rather than when it is paid out. Read More
