An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Internal Revenue Code of 1986

The main collection of tax laws in the United States, which this bill proposes to change.

Medical Care (for tax purposes)

Specific expenses, like doctor visits or prescriptions, that can be paid with pre-tax money from certain health accounts or deducted from taxable income.

Taxable Year

The financial period, typically a calendar year for individuals, over which income taxes are calculated.

Health Savings Account (HSA)

A special savings account where you can put money aside, tax-free, to pay for certain healthcare costs, often linked to high-deductible health insurance plans.

Flexible Spending Account (FSA)

An employer-sponsored plan that lets employees set aside pre-tax money for specific healthcare or dependent care expenses.

Joint Return

A single tax form filed by a married couple that combines their incomes and deductions for tax purposes.

Head of Household

A tax filing status for single individuals who support a qualifying person and pay more than half the cost of keeping up a home.