elderly or disabled tax credit

elderly or disabled tax credit definition - business

elderly or disabled tax credit

A federal credit for individuals who are either 65 years of age or older, or under 65 years of age but retired on permanent and total disability. The credit is available only to U.S. citizens and residents who have adjusted gross income and nontaxable Social Security and pensions that are less than a specified amount.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.