Title 26: Internal Revenue Code
Federal tax law including income tax, estate tax, gift tax, payroll taxes, tax-exempt organizations, and IRS procedures.
80 chapters · 3,461 sections · 6 key sections available
Key Sections (6)
Tax Imposed — Individual Income Tax Rates
Federal individual income tax has seven brackets ranging from 10% to 37%. The bracket thresholds differ based on filing status and are adjusted each year for inflation.
Qualified Cash or Deferred Arrangements (401(k) Plans)
Section 401(k) allows employees to contribute pre-tax money from their paycheck into a retirement savings plan. Employers can also contribute, and there are annual limits on how much can be saved.
Tax Exemption for Charitable Organizations
Organizations dedicated to charitable, religious, educational, or scientific purposes are exempt from federal income tax, but they cannot engage in significant lobbying or any political campaign activity.
General Requirement of Return, Statement, or List
Anyone who owes federal taxes must file a return using IRS forms. The IRS promotes and can require electronic filing for tax preparers who handle many returns.
Gross Income Defined
Federal gross income includes virtually all income from any source — wages, business profits, investment gains, rents, royalties, and more. The definition is intentionally broad to capture all economic gains.
Charitable Contributions — Deduction
Taxpayers can deduct charitable donations to qualifying organizations, generally up to 60% of adjusted gross income for cash gifts. Donations of property and contributions to certain organizations have lower limits.