ACCT 346Research Exercise 04: ExclusionsPurpose:The purpose of this exercise is to introduce you to the use of RIA Checkpoint for the purpose of:1.Finding and understanding a section of the Internal Revenue Code (IRC) that defines excludable income. 2.Finding and interpreting a related Internal Revenue Ruling (Rev. Rul.).3.Finding and analyzing a related court case.Instructions:To complete this assignment, you need to use theRIA Checkpointtax and accounting research service (RIA Checkpoint in the CWU library database): 1.You must be logged into the CWU network;2.Access the RIA Checkpoint service to answer the questions below. (If you need help withCheckpoint, it has help files and I have posted help videos on the course Canvas site, accessible from the main page.)Step-Under My Quick Links, click on the required RIA Search Section identified below.-Enter the necessary search information in the appropriate text box and click on the Search button.