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Bookmark or Share- Tax credits for individuals: What they mean and how they can ...A tax credit is a dollar-for-dollar amount taxpayers claim on their tax return to reduce the income tax they owe. Eligible taxpayers can use them to reduce their tax bill and potentially increase their refund. Refundable vs. nonrefundable tax credits. Some tax credits are refundable.
- Refundable tax credits | Internal Revenue ServiceA refundable tax credit is a credit you can get as a refund even if you don't owe any tax. Tax credits are amounts you subtract from your bottom-line tax due when you file your tax return. Most tax credits can reduce your tax only until it reaches $0.
- Refundable Definition & Meaning - Merriam-Webster1. : to give or put back. 2. : to return (money) in restitution, repayment, or balancing of accounts. refundability. ri-ˌfən-də-ˈbi-lə-tē. (ˌ)rē- noun. refundable. ri-ˈfən-də-bəl. (ˌ)rē- adjective. refund. 2 of 3. noun. re· fund ˈrē-ˌfənd. 1.
- REFUNDABLE | English meaning - Cambridge Dictionaryused to describe money that you pay that is able to be paid back: a refundable deposit. Subscriptions are not refundable. COMMERCE. able to be returned after you have bought it: At some airlines, passengers can take advantage of refundable tickets. Compare. non-refundable.
- refundable - WordReference.com Dictionary of Englishˈrifʌnd/ v. to give back or restore (esp. money); repay: [ ~ + object + to + object] The store will refund the full purchase price to its customers. [ ~ + object + object] The store will refund you the money. n. an act or instance of refunding: [ uncountable] Do you want credit or a refund? [ countable] No refunds will be made.
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