tax credit
noun
: an amount of money that is subtracted from taxes owed
Families with children in college will receive a tax credit this year.
Examples of tax credit in a Sentence
Recent Examples on the Web
Harris would also restore the American Rescue Plan’s expansion of the child tax credit to as much as $3,600, up from $2,000.
—
Nik Popli, TIME, 23 Oct. 2024
Notably, the terms of the current child tax credit are set to expire at the end of tax year 2025.
—Lorie Konish, CNBC, 22 Oct. 2024
If nothing changes, the maximum amount of the child tax credit that may be refundable will be $1,700 in 2025.
—Kelly Phillips Erb, Forbes, 22 Oct. 2024
The incentives under Harris include an increase to the child tax credit, health care subsidies and assistance for first-time homebuyers.
—Sahil Kapur, NBC News, 21 Oct. 2024
See all Example Sentences for tax credit 
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Nik Popli, TIME, 23 Oct. 2024
Notably, the terms of the current child tax credit are set to expire at the end of tax year 2025.
—Lorie Konish, CNBC, 22 Oct. 2024
If nothing changes, the maximum amount of the child tax credit that may be refundable will be $1,700 in 2025.
—Kelly Phillips Erb, Forbes, 22 Oct. 2024
The incentives under Harris include an increase to the child tax credit, health care subsidies and assistance for first-time homebuyers.
—Sahil Kapur, NBC News, 21 Oct. 2024
See all Example Sentences for tax credit
Dictionary Entries Near tax credit
Cite this Entry
“Tax credit.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/tax%20credit. Accessed 5 Nov. 2024.
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