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Dependent Care Assistance Program (DCAP)

An employer-sponsored benefit that allows employees to set aside pre-tax money from their paycheck to pay for eligible dependent care expenses, such as childcare or care for a disabled adult.

Internal Revenue Code of 1986

The official body of tax laws in the United States, which outlines rules for taxation, deductions, and credits.

Inflation Adjustment

A change made to a dollar amount, such as a tax limit or benefit, to account for increases in the cost of living over time, preventing its value from decreasing due to inflation.

Taxable Year

The annual accounting period for which taxes are figured; for most individual taxpayers, this is the calendar year (January 1 to December 31).

Deadwood

A legislative term referring to outdated, obsolete, or unnecessary provisions in a law or code that no longer serve a purpose and are removed for cleanup.