phaseout percentage
Defined in 1 place of the United States Code.
The term “phaseout percentage” means 20 percent reduced (but not below zero) by 1 percentage point for each $2,000 (or fraction thereof) by which the taxpayer’s adjusted gross income for the taxable year exceeds $400,000.
Source
- 2021–present26 U.S.C. § 21Internal Revenue Code · Expenses for household and dependent care services necessary for gainful employment · under this subpart