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tax credit |
Also found in: Financial, Wikipedia | 0.01 sec. |
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tax credit
n
(Social Welfare) (in Britain) a social security benefit paid in the form of an additional income tax allowance ThesaurusLegend: Synonyms Related Words Antonyms
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carry carry away carry forward carry off carry on carry out carry over carry through carrying credit decrease diminution family credit hanky-panky imputation system notional reduction step-down tax | The most immediate needs are for high-quality early childhood programs that help keep the most vulnerable children on track, child care subsidies so parents don't have to pull children out of care, unemployment insurance, food stamps, refundable tax credits so families don't go without food and basic necessities while parents are unemployed, health insurance, and extra funding for state health care budgets so that coverage isn't cut when families need it most. Under the Circuit Breaker, seniors whose property taxes plus half of water and sewer bills, or 25 percent of rent, exceeds 10 percent of their income, can get a refundable tax credit of that amount up to a cap that increases with inflation, it was $900 in 2007 and will be $930 in 2008. McCain's plan includes cutting the estate tax, eliminating the Alternative Minimum Tax, eventually doubling the $3,500 child tax deduction for every dependent, and providing refundable tax credits of $2,500 for individuals and $5,000 for families, who buy health insurance. |
Refundable tax credit |
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