What is a tax rebate?
A tax rebate may be a partial sum of money refunded to people from paid taxes, or it may be an amount by which you reduce your taxes before you pay them. To many the term tax rebate connotes the happy idea of a government sending back some amount of taxes already paid, which may occur or be recommended by governments during lean economic times, or when taxes are over-collected. Such has been the case a few times during the 2000s in the United States. Consumers, provided they met certain income requirements received a tax rebate check, which gave them money in their pockets. Since this money was considered as money they had already paid to taxes, it was not viewed as income. Other times a tax rebate is also called a tax credit. People may be able to take certain tax credits on their income tax returns, which help to reduce total amount of taxes owed. Occasionally these credits are one-time only events, so you do have to watch for different credits that might arise in a given year. In ot
