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Revision as of 01:20, January 20, 2013
, 01:20, January 20, 2013→Backdoor tax expenditures: expand
==Backdoor tax expenditures==
==Backdoor tax expenditures==
Tax expenditures are defined by the Joint Committee on Taxation (JCT) as “revenue losses attributable to provisions of the Federal tax laws which allow a special exclusion, exemption, or deduction from gross income or which provide a special credit, a preferentialrate of tax, or a deferral of tax liability.”
Tax expenditures are defined by the Joint Committee on Taxation (JCT) as “revenue losses attributable to provisions of the Federal tax laws which allow a special exclusion, exemption, or deduction from gross income or which provide a special credit, a preferentialrate of tax, or a deferral of tax liability.”
A tax expenditure is considered federal spending when an eligible filer takes advantage of tax breaks in the law that lower their tax liability and consequently lower the projected baseline of federal revenues. This is one way the federal government funnels money to projects outside the regular appropriations process.
==See also==
==See also==