Tax breaks or things like home mortgage interest deductions on income taxes are examples of ______.

Question

Quizplus · Accepted Answer

Tax expenditures are reductions in income tax liabilities that result from special tax provisions or regulations that provide tax benefits to particular taxpayers. The home mortgage interest deduction is a classic example of a tax expenditure, as it allows taxpayers to deduct interest paid on their home mortgage from their taxable income, effectively reducing the amount of tax they owe.

Tax Breaks or Things Like Home Mortgage Interest Deductions on Income