The principles of sound tax policy should serve as touchstones for policymakers everywhere. See Tax Foundation principles.| Tax Foundation
A tax deduction is a provision that reduces taxable income. A standard deduction is a single deduction at a fixed amount. Itemized deductions are popular among higher-income taxpayers who often have significant deductible expenses, such as state/local taxes paid, mortgage interest, and charitable contributions.| Tax Foundation
A tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities.| Tax Foundation
Stay informed on the tax policies impacting you with the Tax Foundation's Above-the-Line tax newsletter. Explore popular tax newsletters.| Tax Foundation