large credit?

Guest   Tue Mar 14, 2006 2:01 am GMT
You might request a variation if, for example, the regular rate of withholding would lead to a large credit at the end of the income year because your tax deductible expenses are higher than normal.

I'd like to know what 'large credit' means?
Please help me.
Uriel   Tue Mar 14, 2006 2:11 am GMT
A large credit -- money the gov't owes YOU. A big tax refund, in other words.

In financial terms, credit = money that comes INTO your account, or is available for you to spend; debit = money that is being withdrawn from your account, that you pay to someone else.