GST

the goods and sales tax (GST) was first discussed in 1986 when the then Financial Secretary, John Brembridge, suggested the introduction of the GST as a solution to the narrow tax base.

2012, Kui-wai Li, Economic Freedom: Lessons Of Hong Kong, page 538:

The July budget is likely to set a deadline for the implementation of two key tax reforms – the Goods and Sales Tax (GST) and Direct Taxes Code (DTC) – which till now did not get consensus from all the states. It is estimated that with GST in place, India's GDP will shoot up by a minimum of 1.5 to two percentage points

2016, Dr. Sunil Gupta, Thoughts Gallery: Thoughts Gallery: A Treasury of Inspiring Thoughts and Quotes, page 205:

There are several instances when provinces have used their latitude in this respect to 'fill in' the tax room the federal government has left when abating its sales tax and later the Goods and Sales Tax (GST).

2018, Dietmar Braun, Fiscal Policies in Federal States:

goods and sales tax
goods and sales tax#English

(taxation)
Initialism of goods and sales tax.

goods and services tax
goods and services tax#English

(Australia, Canada, New Zealand, India, Singapore) Initialism of goods and services tax.


LLC

This provision adds requirements for the student and taxpayer (if filing on behalf of the student) to include their SSN on their tax return in order to receive either the AOTC or LLC under IRC section 25A.

2025 May 7, “The One, Big, Beautiful Bill”, in United States House Committee on Ways & Means, page 43:

Lifetime Learning Credit
w:Lifetime Learning Credit

(US, taxation) Initialism of Lifetime Learning Credit.


quitrent

quitrents (plural)
quit rent (alternative)
quit-rent (alternative)

(law, taxation) A rent reserved in grants of land, by the payment of which the tenant is quit (absolved) from other service.

բահրա

a rent reserved in grants of land, by the payment of which the tenant is quit (absolved) from other service


return

en-noun

return (countable and uncountable, plural returns)

returns (plural)
returne (alternative obsolete)
retvrn (alternative Internet)

From Middle English returnen, retornen, from Anglo-Norman returner, from Old French retourner, retorner, from Medieval Latin retornare (“to turn back”), from re- + tornare (“to turn”). Compare beturn.

der

Hand in your return within 90 days of the end of the tax year.

(taxation, finance) A report of income submitted to a government for purposes of specifying exact tax payment amounts; a tax return.


TDS

tax deducted at source
tax deducted at source#English

(taxation) Initialism of tax deducted at source.


capitalize

en-verb

capitalize (third-person singular simple present capitalizes, present participle capitalizing, simple past and past participle capitalized)

capitalizes (present singular third-person)
capitalizing (participle present)
capitalized (participle past)
capitalized (past)
capitalise (alternative)

From capital + -ize, the first element ultimately from Latin capitālis (“of the head”).

(transitive, accounting, taxation) To treat as capital, not as an expense.


graduated

(taxation) Increasing in rate with the taxable base.


VAT

And neither party is up for imposing a VAT in place of the current income tax system.

2024 December 28, Jonathan Nicholson, “Yes, There Are Ways To Cut The Budget Deficit. 'DOGE' Hasn’t Found Them So Far.”, in HuffPost:

(taxation) Initialism of value added tax.

BTW

initialism for value-added tax — see also value added tax


tax evasion

LL-Q1860 (eng)-Flame, not lame-tax evasion.wav

(taxation, criminology) The illegal reduction of paying tax, especially by making a false declaration of income etc.


tax haven

Such colonies claim to be "more British than the British", except that they pay no UK tax and act as tax havens for funds from Britain. Gibraltar has made a particular specialism of internet gambling.

2013 August 14, Simon Jenkins, “Gibraltar and the Falklands deny the logic of history”, in The Guardian:

(law, business, taxation) A jurisdiction that levies low tax rates on certain economic activities, especially to attract wealthy individuals and foreign businesses.

belastingparadys

country that levies low taxes on foreign businesses


w/h

(US, taxation) Abbreviation of withholding.


EIN

Employer Identification Number
w:Employer Identification Number

(US, taxation) Initialism of Employer Identification Number.


value added tax

head

value added tax (plural value added taxes)

value added taxes (plural)
value-added tax (alternative)

LL-Q1860 (eng)-Vealhurl-value added tax.wav

(taxation) A tax levied on the added value that results from the exchange of goods and services.

ضَرِيبَة عَلَى القِيمَةْ المَضَافَة

tax levied on added value of an exchange — see also VAT

imposto sobre a circulação de mercadorias


avoision

"Avoision" is how I referred to the panoply of questionable conduct about whose status as either avoidance or evasion we couldn't make up our minds.

1996, Leo Katz, Ill-Gotten Gains, University of Chicago Press, page 52:

"Seldon (1979) coined the term 'Avoision' to indicate 'the blurring between tax avoidance and evasion that arises from the looser connection between the legal and the moral'"

2008, Alan Lewis, editor, The Cambridge Handbook of Psychology and Economic Behaviour, Cambridge University Press, page 306:

(taxation, law) Nonpayment of tax that cannot clearly be seen as either tax avoidance, which is legal, or tax evasion, which is illegal.


EITC

en-noun

EITC (usually uncountable, plural EITCs)

The IRS may audit an EITC claim or deny all or part of the credit if there are errors on a tax return.

2025 May 7, “The One, Big, Beautiful Bill”, in United States House Committee on Ways & Means, page 44:

(US, taxation) Initialism of earned income tax credit.


DTA

double tax agreement
double tax agreement#English

(taxation) Initialism of double tax agreement.


bracket creep

The corporate tax is essentially a flat-rate tax; thus there is no bracket creep.

1985, C. Eugene Steuerle, Taxes, Loans, and Inflation: How the Nation's Wealth Becomes Misallocated, page 34:

Bracket creep, however, was occurring only among individuals, not corporations. All other things being equal, this bracket creep increased the extent to which borrowing would be undertaken by individuals, not corporations.

1990, John B. Shoven, Joel Waldfogel, Debt, Taxes, and Corporate Restructuring, page 27:

2001, Frederick C. v N. Fourie, How to Think and Reason in Macroeconomics, 2nd edition, page 290,
Bracket creep can be avoided by regularly adjusting tax brackets for inflation, so that the tax brackets remain unchanged in real terms.

progressive taxation
progressive taxation

(taxation) The move towards increased taxation when an inflation adjustment to a wage or salary pushes a taxpayer into a higher tax bracket (or, in a progressive taxation regime, further into a bracket).

verotuksen kiristyminen inflaation myötä


CRS

Common Reporting Standard
w:Common Reporting Standard

(taxation) Initialism of Common Reporting Standard.


Internal Revenue Service

the Internal Revenue Service (canonical)

(US, finance, taxation) The United States government agency that collects taxes and enforces the internal revenue laws.


sumptuary tax

The author seems favourable to a tax on dress, when, exceeding the limits of necessity and decency, it luxuriates in finery and ornament. A tax which should fall only on the superfluous embellishments, and costliness, of apparel would be a sumptuary tax, and might form a new source of supply to the necessities of the state, if an easy, simple, and economical mode of raising it could be devised. We have taxes on hats, and on hair-powder; and might not a salutary tax be levied on jewels and lace, and various other exterior decorations

1810, “[review of] What is the Influence of the different Species of Taxation on the Morality, the Activity, and the Industry of Nations? By M. de Monthion, formerly Counsellor of State. Paris”, in The Critical Review:

Although the influence of a very patriotic sumptuary tax has diminished the number of dogs, we have still “ thousands too many.”

1812, Thomas Tusser, Five Hundred Points of Good Husbandry, page 125:

I do not consider that the Carriage Tax is a tax intended to pay for the upkeep of the roads at all; I do not think that ever entered into the idea of it. I think it was a purely sumptuary tax intended to hit a luxury. / 14905. Like the Window Tax, which was also aimed at a supposed luxury ? / —Yes.

1906, “[testimony of] Sir Henry William Primrose, 8 Feb. 1906”, in Parliamentary Papers, House of Commons and Command:

A sumptuary tax is a tax whose effects are desired on moral or ethical grounds. It is levied on certain products or services the consumption of which is discouraged. Example of sumptuary taxes are those imposed on the production, sale, or consumption of tobacco products, alcoholic drinks, playing cards, billiard tables, cabaret admissions, and many others. A tax for regulatory purposes should be distinguished from sumptuary tax.

1982, Florentino G. Ayson, C. O. Resurreccion, The fundamentals of agrarian reform, page 173:

(economics, taxation) A government levy on goods considered to be socially undesirable goods or nonessential luxuries, most commonly alcohol and tobacco.


feebate

(economics, taxation) A tax or user charge imposed by government that charges users of socially undesirable items and applies the money to payments for users of socially desirable items.


unearned income

unearned income (countable and uncountable, plural unearned incomes)

(taxation) Income that is not a wage, such as interest, dividends or realized capital gains from investments, rent from land or property ownership, and any other income that does not derive from work.


nonrecognition

(taxation) Not involving recognition of gain or loss.


surviving spouse

surviving spouse (plural surviving spouses)

(taxation, US) An unmarried taxpayer whose spouse has been deceased for less than two taxable years, and who provides a home for one or more dependents of the deceased.


tax lot

In some countries such as the USA, cost basis must be considered on a tax lot-by-tax lot basis.

2003, Stephen Satchell with Alan Scowcroft, Advances in Portfolio Construction and Implementation, page 128:

(accounting, taxation, US) A grouping of security holdings in an account used for enabling the calculation and treatment of the securities for tax compliance and reporting.


clawback

clawback (countable and uncountable, plural clawbacks)

Deverbal from claw back. In the financial senses, refers to something being "clawed back", or reclaimed; in the sense of a flatterer, it suggests the idea of a person's back being scratched (see scratch someone's back).

(US taxation law) Money that a party is entitled to keep under one tax provision but is taken by another tax provision.


ability to pay

ability to pay (plural abilities to pay)

ability-to-pay taxation

an ability-to-pay approach

Progressive taxes attempt to reduce the tax burden of people with a lower ability to pay.

(taxation, often attributive) An individual's level of wealth or income, as a measure of the tax rate they can afford to pay.


flowthrough

flowthrough (countable and uncountable, plural flowthroughs)

Deverbal from flow through, from flow + through.

(taxation) A legal entity intended to not incur (income) taxation at the entity, but solely at the beneficiaries.


carryback

Current theft loss rules typically allow losses to be carried back three years and forward 20 years, but the I.R.S plan will allow carrybacks of as many as five years, generally if the loss is for a small business with gross annual receipts of less than $15 million.

2009 March 18, Lynnley Browning, “I.R.S. Plans a Deduction for Madoff Victims”, in New York Times:

(accounting, taxation) An income tax loss or credit that can be applied to offset previously taxed income or taxes paid, respectively.


carryforward

(accounting, taxation) An income tax loss or credit not usable in the current year that can be applied to offset income or taxes paid, respectively, in subsequent tax years.


(US, taxation) The main form for US individual income tax filing.


(US, taxation) A form reporting one's compensation as an employee during a year at an employer or personal income taxation.


[…] It is going to be up to the taxpayer, if they receive a 1099 in any form for a nontaxable event, such as splitting rent among roommates, splitting a dinner bill, or even selling something on eBay for less than you paid for it, to explain to the IRS that the 1099 was received for a non-taxable transaction,” said Mark Luscombe, principal analyst for tax publisher Wolters Kluwer Tax & Accounting.

2021 November 9, Jeanne Sahadi, “If you use Venmo, PayPal or other payment apps this tax rule change may affect you”, in CNN:

Absolutely bewildered by the concept of taxes, he’d brought his 1099s to the nearest outpost of a national accounting chain to seek help.

2023 October 19, Brendan I. Koerner, “Watch This Guy Work, and You’ll Finally Understand the TikTok Era”, in Wired, →ISSN:

(US, taxation) A form reporting one's nonemployment income from a given source for a year.


auditee

(management, accounting, taxation) One subjected to an audit.


FICA

(government, taxation) Acronym of Federal Insurance Contributions Act.


passthrough

passthrough (countable and uncountable, plural passthroughs)

passthroughs (plural)
passthru (alternative)
pass-through (alternative)

Partnerships, limited-liability companies, and Subchapter S corporations are the main US passthroughs.


carousel fraud

carousel fraud (countable and uncountable, plural carousel frauds)

(finance, taxation) The theft of value-added tax from a government by exploiting the way VAT is treated within multijurisdictional trading where the movement of goods between jurisdictions is VAT-free.


QEF

qualified election fund
w:passive foreign investment company

(taxation) Acronym of qualified election fund.


capital gains tax

capital gains tax (countable and uncountable, plural capital gains taxes)

(taxation) A tax levied on the profit made from selling any "capital" (i.e. non-inventory) asset.

nalóg na uveličénije rýnočnoj stóimosti kapitála

нало́г на увеличе́ние ры́ночной сто́имости капита́ла


hidden tax

(taxation) A tax that is not visible to the consumer at the point of retail, having been levied on intermediate products, such as inputs to a finished product, or outputs from raw material production.


iPod tax

(slang, taxation) A levy or tax on digital storage products (e.g. iPods), levied at a per unit capacity rate, used to compensate content providers for piracy of their goods.


excisable

Tobacco is an excisable commodity.


QST

(Canada, taxation) Initialism of Quebec sales tax.


(UK, Ireland, taxation) The end-of-year tax certificate given to each employee by their employer.


Universal Credit

So now Mahmood was in debt and his existing benefits were stopped because the DWP computer thought he was receiving universal credit.

2019 October 14, Robert Booth, “Computer says no: the people trapped in universal credit's 'black hole'”, in The Guardian:

(taxation) A welfare benefit in the United Kingdom, replacing previous benefits and tax credits, gradually rolled out from 2013 and expected to cover the whole country by the end of 2024.


non-dom

Without that non-dom status she could have been liable for more than £20m of UK taxes on these windfalls, it was reported. After a public outcry, her spokesperson announced she would start paying UK taxes on her overseas earnings to relieve political pressure on her husband.

2022 October 24, Caroline Davies, “Spotlight on Rishi Sunak’s family as they prepare to enter No 10”, in The Guardian:

(taxation, UK) One who has their domicile in another country, allowing them to avoid paying UK tax on non-UK earnings.


flat tax

flat taxes (plural)
flat rate tax (alternative)

Several candidates for the 1996 Republican Presidential nomination and some of the top Republican leaders in Congress are advocating replacing the graduated income tax with a flat tax.

1995 April 18, David E. Rosenbaum, “Washington Memo: Debate on Flat Tax Revives Simplicity vs. Fairness Issue”, in New York Times, retrieved 2015-11-27:

Eyman's measure also would repeal the state tax on boats, 1 percent of the vessel's value, and replace it with a flat tax of $10.50 a year.

2001 November 18, David Ammons, “Eyman takes aim at some more taxes”, in Seattle Post-Intelligencer, retrieved 2015-11-27:

A flat tax means scrapping all income tax bands and the various exemptions and loopholes and replacing them with a single low rate.

2005 August 19, George Trefgarne, “The flat tax secrets that worried Brown did not want us to see”, in Telegraph, UK, retrieved 2015-11-27:

(government, taxation) A tax, usually income tax, whose percentage rate or currency value remains constant, regardless of the amount to which the tax is applied.


TOT

TOT (countable and uncountable, plural TOTs)

(taxation, Kenya) Initialism of turnover tax.


contra-trading

(finance, taxation) A form of carousel fraud that evades detection by using two "carousels" of traded goods, where one carousel is legitimate and the other is not, and thus the input and output VATs neutralize each other to conceal the fraud.


NRB

(UK, taxation and law) Initialism of nil-rate band.


tax cut

(taxation) A reduction in the rate of tax charged by a government.


progressive tax

progressive tax (plural progressive taxes)

(government, taxation) a tax whose percentage increases as a person's wealth increases.


reverse charge

This delivery is subject to reverse charge in the country of receipt.

(taxation) Added to an invoice to indicate that receiver of the goods or services in another member state of European Union is responsible for paying VAT.


LRIP

low rate income pool
low rate income pool#English

(Canada, taxation) Abbreviation of low rate income pool.


inland revenue

inland revenue (countable and uncountable, plural inland revenues)

(taxation) Revenue that is derived from stamps, excise, income tax, etc.


corporation tax

corporation tax (plural corporation taxes)

(British, taxation) Synonym of corporate tax.


OTS

The chancellor has asked the Office of Tax Simplification (OTS) to report on how CGT rates compare with other taxes, and how the present rules may distort behaviour. […] The OTS is likely to consider a lot of tinkering around the edges.

2020 July 15, Patrick Collinson, “Capital gains tax review: your questions answered”, in The Guardian:

Office of Tax Simplification
w:Office of Tax Simplification

(UK, taxation) Initialism of Office of Tax Simplification.


GEN

(taxation, US) Initialism of group exemption number.


(US, taxation) A variant of the 1040 income tax return for non-resident tax payers.


Tax-exempt non-profits are required to provide their three most recent Form 990s if you ask, per the National Council of Nonprofits.

2020 June 19, Scottie Andrew, “What to consider as you donate to a social justice fund”, in CNN:

Like other tax-exempt nonprofits, AIEF must file a Form 990 every year with the IRS, but donors are redacted from the version that is made accessible to the public.

2023 November 18, Murtaza Hussein, “Meet the Secret Donors Who Fund AIPAC’s Israel Trips for Congress”, in The Intercept:

(US, taxation) An IRS form for tax-exempt organizations (such as charities).


section 104 holding

section 104 holding (plural section 104 holdings)

Described by section 104 of the Taxation of Chargeable Gains Act 1992.

(taxation, UK) The situation where certain shares are pooled and treated as a single asset for tax purposes.


(UK, taxation) The main tax return form for individuals.


(UK, taxation) A tax return form for employees and company directors.


(UK, taxation) A tax return form for UK property income.


(UK, taxation) A tax return form for foreign income or gains.


(UK, taxation) A tax return form for capital gains.


(UK, taxation) A tax return form for non-residents and dual residents.


dual resident

(law, taxation) A person who is a resident for tax purposes in two or more countries.


(US, taxation) A form to declare that someone is a U.S. tax payer.


(US, taxation) A form to declare that someone is not a U.S. tax payer or to request reduced tax withholding.


double tax agreement

double tax agreement (countable and uncountable, plural double tax agreements)

double tax agreements (plural)
DTA (alternative)

(taxation) A bilateral treaty between two countries to resolve issues related to double taxation.

kaksinkertaista verotusta koskeva sopimus

soglašénije ob izbežánii dvojnóvo nalogoobložénija

соглаше́ние об избежа́нии двойно́го налогообложе́ния

dogovór ob izbežánii dvojnóvo nalogoobložénija

догово́р об избежа́нии двойно́го налогообложе́ния


NRST

(taxation) Abbreviation of national retail sales tax.

(Canada, taxation) Abbreviation of non-resident speculation tax.


Inland Revenue

(UK, taxation, historical) A British government department responsible for the collection of taxes (not including local taxes and customs and excise duties).


IHT

(taxation, UK) Initialism of inheritance tax.


made-wine

(UK, taxation) An alcoholic drink made from fermentation, other than grape wine, beer, black beer, spirits or cider, for the purposes of excise tax.


ULC

unlimited liability corporation
unlimited liability corporation#English

(Canada, taxation, business, law) Initialism of unlimited liability corporation.


PFIC

passive foreign investment company
w:passive foreign investment company

(taxation) Acronym of passive foreign investment company.


From the section of the U.S. federal tax code.

After the law was enacted in 2007, AIPAC, which had sponsored congressional trips to Israel since the 1990s, campaigned to create an exception for 501(c)(3) organizations that lobbying groups could use to get around the law. Both 501(c)(3) and 501(c)(4) groups are tax-exempt nonprofits, but 501(c)(4) groups — including AIPAC — are considered “social welfare” organizations, which are allowed to spend more than 20 percent of their resources on lobbying the government.

(US, taxation, organizations) An organization that complies with section 501(c)(3) of the U.S. federal tax code. A non-profit organization exempt from some federal income taxes, due to being dedicated to charitable, religious, educational, scientific, public safety, promotion of amateur sport at the national or international level, prevention of cruelty to women or children or animals, or literary purposes.


(US, taxation, organizations) An organization that complies with section 501(c)(4) of the U.S. federal tax code. A non-profit organization exempt from some federal income taxes, due to being dedicated social welfare purposes.


CTT

capital transfer tax
capital transfer tax#English

(taxation, UK, historical) Initialism of capital transfer tax.


FDII

(taxation) Acronym of foreign-derived intangible income.


FDAP

An entity which during the taxable year—a specified foreign entity has the direct or indirect authority to appoint a covered officer, a single foreign entity owns at least 10 percent of such entity, one or more specified foreign entities own in the aggregate at least 25 percent of such entity, at least 25 percent of the debt of such entity is held in the aggregate by one or more specified foreign entities, the entity knowingly makes FDAP payments to a specified foreign entity an amount equal to 10 percent of the annual gross receipts of the entity for the previous taxable year, or makes aggregate FDAP payments to one or more specified foreign entities of at least 25 percent of the annual FDAP payments of the entity for such previous tax year.

2025 May 7, “The One, Big, Beautiful Bill”, in United States House Committee on Ways & Means, page 32:

(taxation) Acronym of fixed, determinable, annual, or periodical, a variety of income in US taxation.


PTEP

(taxation) Acronym of previously taxed earnings and profits, within US taxation, those earnings and profits of a foreign corporation that are attributable to amounts included in the gross income of a US shareholder under Internal Revenue Code sections 951(a) or 1248(a).


wage credit

(taxation, US) A compensation, received as gratuities, which has been paid for employment by an employer.


tax hike

(taxation, informal) A sudden increase in taxes.


direct tax

(taxation) A tax imposed upon a person or property as distinct from a tax imposed upon a transaction.


indirect tax

(taxation) A tax that is levied upon goods and services before they reach the customer who ultimately pays the indirect tax as a part of the market price of the goods or services purchased.


tax due

tax due (countable and uncountable, plural taxes due)

(taxation) The total amount a taxpayer must pay to the government or other entity.


license fee

(taxation) An amount of money collected from an individual or an organization by the government or other entity in order to legitimize an activity.


FEIE

foreign earned income exclusion
w:foreign earned income exclusion

(US, taxation) Initialism of foreign earned income exclusion.


AEOI

(taxation) Initialism of automatic exchange of information.


UAGC

uniform annual general charge
uniform annual general charge#English

(taxation) Abbreviation of uniform annual general charge.


secrecy jurisdiction

secrecy jurisdiction (countable and uncountable, plural secrecy jurisdictions)

(law, business, taxation) A facility or physical location which enables individuals or entities to escape or undermine the laws, rules, and regulations of jurisdictions elsewhere, using secrecy as a primary tool.


book of rates

(business, taxation, dated) A publication listing the official valuations of commodities, especially for tax purposes.


VHT

VHT (countable and uncountable, plural VHTs)

* (motorsport): Genericization of a trademark, deriving from an initialism of very high traction.
* (taxation): Initialism of vacation home tax.

vacation home tax
vacation home tax#English

(taxation, abbreviation) Synonym of vacation home tax.


tax in kind

taxes in kind (plural)
tax-in-kind (alternative)

(finance, taxation) Any form of taxation that is paid in kind, i.e., with goods or services rather than money.


Indian Revenue Service

(India, taxation) A civil service that is primarily responsible for collecting and administering direct and indirect taxes.


Canada Revenue Agency

(finance, taxation) The revenue service of the federal government, and most provincial and territorial governments, of Canada.


customs and excise

(taxation) Taxes that have been levied on goods and activities.


ERTC

ERTC (usually uncountable, plural ERTCs)

The provision makes clear that the pre-enactment standard for applying the aiding and abetting penalty remains unchanged despite the targeted increase in the amount of the penalty that applies solely to ERTC promoters.

2025 May 7, “The One, Big, Beautiful Bill”, in United States House Committee on Ways & Means, page 44:

(US, taxation) Initialism of employee retention tax credit.


AOTC

AOTC (usually uncountable, plural AOTCs)

This provision adds requirements for the student and taxpayer (if filing on behalf of the student) to include their SSN on their tax return in order to receive either the AOTC or LLC under IRC section 25A.

2025 May 7, “The One, Big, Beautiful Bill”, in United States House Committee on Ways & Means, page 43:

American Opportunity Tax Credit
w:American Opportunity Tax Credit

(US, taxation) Initialism of American Opportunity Tax Credit.


LIHTC

LIHTC (usually uncountable, plural LIHTCs)

This provision makes three changes to the LIHTC program. First, for calendar years 2026 through 2029, the “9% LIHTC” is restored to its 2021 level with a 12.5 percent allocation increase. Second, for the “4% LIHTC”, this provision lowers the bond-financing threshold to 25 percent for projects financed by bonds with an issue date before 2030. Last, this provision designates Indian and rural areas as DDAs.

2025 May 7, “The One, Big, Beautiful Bill”, in United States House Committee on Ways & Means, page 28:

Low-Income Housing Tax Credit
w:Low-Income Housing Tax Credit

(US, taxation) Initialism of Low-Income Housing Tax Credit.