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Internal Revenue Code of 1986

The official compilation of federal tax laws in the United States.

Above-the-line deduction

A tax deduction that reduces a person's gross income to arrive at their adjusted gross income (AGI). These deductions can be taken even if a taxpayer doesn't itemize their deductions.

Eligible educators

Generally, kindergarten through 12th grade teachers, instructors, counselors, principals, or aides who work at least 900 hours during a school year.

Interscholastic sports administrator or coach

Individuals who organize, manage, or direct school-sponsored competitive athletic activities between different schools, or who train and instruct student athletes for such competitions.

Taxable years

The annual accounting period for which a taxpayer calculates their income tax liability, typically the calendar year (January 1 to December 31).