logo

Video encyclopedia

Tax credit

1:43

What Is a Tax Credit? | Financial Terms

2:11

Tax credits: How do they work? BBC News

3:52

What is the Earned Income Tax Credit and Do You Qualify For It?

2:39

The Earned Income Tax Credit (EITC) in 3 minutes

2:56

Low Income Housing Tax Credit (LIHTC) in 3 minutes

A tax credit is a tax incentive which allows certain taxpayers to subtract the amount of the credit they have accrued from the total they owe the state. It may also be a credit granted in recognition of taxes already paid or, as in the United Kingdom, a form of state support.
    • Credit for payments 

    • Individual income tax credits 

    • Business tax credits 

    • Foreign tax credit 

    • Credits for alternative tax bases