tax credit

English

Noun

tax credit (plural tax credits)

  1. A tax incentive which allows certain taxpayers to subtract the amount of the credit they have accrued from the total they owe.
    • 2022 December 22, Annie Lowrey, quoting Pamela Herd, “The Child Tax Credit Was a Little Too Subtle”, in The Atlantic‎:
      A tax credit—it just doesn’t feel like a benefit in the same way that getting your Social Security check does. It doesn’t register with people in the same way, and that has a real impact on support for the program.

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