Third, deferrals allow taxpayers to postpone the date at which income gets taxed. Individual taxpayer get deferrals through various tax-advantaged saving programs; 401(k)s, for example, allowed taxpayers to keep about $52 billion they otherwise would have paid to the IRS in 2010. Corporate taxpayer can defer taxes on most income earned by their foreign affiliates until the income is formally paid to the U.S> parent company, a delay that saved them about $38 billion last year.