Definition of tax credit in English:
tax credit
nounˈtaks krɛdɪtˈtæks ˌkrɛdət
A sum that can be offset against a tax liability.
Example sentencesExamples
- The good news is that families with children on low incomes will get a significant boost to their child tax credit payments from next year.
- I put in for the tax credit last October, received one small payment and then had them suspended.
- Arizona offers a tax credit for donations to privately funded voucher programs.
- The child tax credit is subject to strict income limitations on both the upside and downside.
- With our household income reducing following tax code changes, the tax credit is vital.
Definition of tax credit in US English:
tax credit
nounˈtæks ˌkrɛdətˈtaks ˌkredət
An amount of money that can be offset against a tax liability.
Example sentencesExamples
- The good news is that families with children on low incomes will get a significant boost to their child tax credit payments from next year.
- I put in for the tax credit last October, received one small payment and then had them suspended.
- With our household income reducing following tax code changes, the tax credit is vital.
- The child tax credit is subject to strict income limitations on both the upside and downside.
- Arizona offers a tax credit for donations to privately funded voucher programs.