The term _________________ refers to provisions of the tax code that provide special or selective reductions in taxes for certain groups of citizens and corporations.
A) tax relief
B) tax expenditures
C) tax opportunities
D) revenue
E) cheating on taxes

Question

Quizplus · Accepted Answer

Tax expenditures refer to provisions of the tax code that result in a reduction in tax revenue because they provide preferential treatment to certain groups of taxpayers. They are often referred to as "tax breaks" or "tax subsidies." Examples include deductions for charitable donations, the exclusion of employer-provided health insurance from income, and the reduced tax rate on capital gains.

The Term _________________ Refers to Provisions of the Tax Code