Tax Definitions

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Define Exemption

What is Exemption ?


Exemption is the amount that taxpayers can claim for themselves, their spouses, and eligible dependents. There are two types of exemptions-personal and dependency. Each exemption reduces the income subject to tax. The exemption amount is a set amount that changes from year to year.

Defining Exemption Tax Refund

Definition: Tax Terms

Tax Dictionary - Forms and advice to e-file your taxes online today.
What are taxes? They are a charge imposed by the government on people, entities, or on property in order to raise revenue.

Where is my tax refund? Good question! When you e-file your taxes you need to understand what Exemption means, before you may receive a fast tax refund online.

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