What is another word for tax credit?
Pronunciation: [tˈaks kɹˈɛdɪt] (IPA) 
Tax credits are a valuable part of the tax code, allowing taxpayers to reduce their tax liability while receiving benefits for certain expenses. The term "tax credit" can be used synonymously with terms such as tax relief, tax break, tax deduction, and tax rebate. Tax relief refer to any measure that reduces a taxpayer's liability, including tax credits or deductions. A tax break implies a reduction or total removal of taxes for a certain period. Tax deductions refer to a reduction in taxable income, while tax rebates refer to a refund of tax that has been overpaid. Overall, whatever the term used, tax credits offer an attractive option for reducing tax liability and incentivizing desired behavior.
