Tax Deductions for Individuals: A Summary

Description:

This report first describes what tax deductions are, how they vary in their effects on reducing taxable income, and how they differ from other provisions (e.g., exclusions or credits). Next, it discusses the rationale for deductions as part of the tax code. The final section of this report includes tables that summarize each individual tax deduction, under current law. Many of these deductions are part of the permanent income tax code.

Creator(s): Lowry, Sean
Location(s): United States
Creation Date: January 8, 2014
Partner(s):
UNT Libraries Government Documents Department
Collection(s):
Congressional Research Service Reports
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Creator (Author):
Lowry, Sean

Analyst in Public Finance

Publisher Info:
Publisher Info: Congressional Research Service, Library of Congress
Place of Publication: Washington D.C.
Date(s):
  • Creation: January 8, 2014
Coverage:
Place
United States
Description:

This report first describes what tax deductions are, how they vary in their effects on reducing taxable income, and how they differ from other provisions (e.g., exclusions or credits). Next, it discusses the rationale for deductions as part of the tax code. The final section of this report includes tables that summarize each individual tax deduction, under current law. Many of these deductions are part of the permanent income tax code.

Physical Description:

26 pages.

Language(s):
Subject(s):
Partner:
UNT Libraries Government Documents Department
Collection:
Congressional Research Service Reports
Identifier:
Resource Type: Report
Format: Text