TAX CREDIT

tax credit.An amount subtracted directly from one’s total tax liability, dollar for dollar, as
opposed to a deduction from gross income. — Often shortened to credit. Cf. DEDUCTION(2).
[Cases: Internal Revenue 3520–3537; Taxation 1047. C.J.S. Internal Revenue §§ 58, 336–357,
489–492; Taxation § 1758.]
[Blacks Law 8th]