SETOFF Definition & Meaning

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setoff

[ set-awf, -of ]

Phonetic (Standard)IPA

something that counterbalances or makes up for something else, as compensation for a loss.
Accounting. a counterbalancing debt or claim, especially one that cancels an amount a debtor owes.
Also called offset. Architecture.
1. a reduction in the thickness of a wall.
2. a flat or sloping projection on a wall, buttress, or the like, below a thinner part.
something used to enhance the effect of another thing by contrasting it, as an ornament.
Printing. offset ( def 7 ).

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Origin of setoff¹

First recorded in 1615–25; noun use of verb phrase set off

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Examples have not been reviewed.

But there’s no similar time limit for going after Virginia consumers’ tax refunds through the setoff program.

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Also, 19-year-olds don’t choose an agent based upon which one best understands the Arenas rule or setoff provisions.

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She closed her eyes and slept, and presently they woke her and setoff.

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North Korea’s hydrogen bomb test setoff off a manmade earthquake near the test site.

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In the “setoff debt” program, Revenue siphons money from income tax refunds the debtor would otherwise get.

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