follow Dictionary.com

Stories We Like: Novels For Language Lovers

tax loophole

tax loophole in Culture

tax loophole definition


A provision in the laws governing taxation that allows people to reduce their taxes. The term has the connotation of an unintentional omission or obscurity in the law that allows the reduction of tax liability to a point below that intended by the framers of the law.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
Cite This Source

Word of the Day

Word Value for tax

10
10
Scrabble Words With Friends

Nearby words for tax loophole