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2. Tax cut - Wikipedia

   en.wikipedia.org/wiki/Tax_cut

   A reduction in the fraction of the taxed item that is taken. An income tax rate cut reduces the percentage of income that is paid in tax. Deduction: A reduction in the amount of the taxed item that is subject to the tax: An income tax deduction reduces that amount of taxable income. Credit: A reduction in the amount of tax paid.

3. Tax deduction - Wikipedia

   en.wikipedia.org/wiki/Tax_deduction

   A tax deduction or benefit is an amount deducted from taxable income, usually based on expenses such as those incurred to produce additional income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. The difference between deductions, exemptions, and credits is that deductions and exemptions both reduce taxable ...

4. Tax Cuts and Jobs Act - Wikipedia

   en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act

   The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, [2] Pub. L. 115–97 (text), is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), [3] [4] that amended the Internal Revenue Code of 1986.

5. What are tax credits and how do they work? - AOL

   www.aol.com/finance/tax-credits-153012710.html

   Tax credits are one way taxpayers can reduce what they owe the IRS or increase their refund. ... Turbotax notes that tax credits are a “dollar-for-dollar reduction of your income.” To claim a ...

6. Tax holiday - Wikipedia

   en.wikipedia.org/wiki/Tax_holiday

   A tax holiday is a temporary reduction or elimination of a tax. It is synonymous with tax abatement, tax subsidy or tax reduction. Governments usually create tax holidays as incentives for business investment, although the arrangement has also been characterized as a form of corporate welfare that leads to a redistribution of resources away ...

7. 5 Presidents Who Raised Taxes the Most, and 5 Who ... - AOL

   www.aol.com/5-presidents-raised-taxes-most...

   President Clinton signed the Taxpayer Relief Act of 1997, an enormous tax-reduction bill that radically overhauled the IRS code, making more than 800 changes to U.S. tax law. Many of its most ...