income tax code

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Income Tax Code

Description:

The income tax code refers to a set of laws and regulations that determine the rules for calculating and paying taxes on the income earned by individuals and businesses. It outlines the various tax brackets, deductions, exemptions, and credits that impact the amount of tax owed.

Senses:

Noun: Refers to the specific piece of legislation that defines the rules and regulations for filing income taxes.
Noun: Can also denote the set of guidelines or principles used in the calculation and collection of income taxes.

Usage:

1. She had a hard time understanding the complex income tax code and sought professional help to file her taxes accurately.

2. The government recently introduced some amendments to the income tax code in order to provide relief to low-income families.

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Income Tax Code on Amazon

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