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26 U.S.C. § 241 — Allowance of special deductions
submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 29 words · no verdicts yet
in plain englishAI-generated · not legal advice
Beyond the regular deductions already allowed elsewhere in the tax code, this part of the law lets taxpayers deduct the specific items listed in this part when figuring their taxable income.
In addition to the deductions already allowed under part VI (starting at section 161), taxpayers may also deduct, in computing taxable income, whatever specific items this part lists.
the actual law source: uscode.house.gov ↗public domain
In addition to the deductions provided in part VI (sec. 161 and following), there shall be allowed as deductions in computing taxable income the items specified in this part.
Source credit: (Aug. 16, 1954, ch. 736, 68A Stat. 72.)
history & why it existsrecord from the source credit
- 1954Enacted · Act of Aug. 16, 1954, ch. 736
A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.
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