setoff

American  

[set-awf, -of] / ˈsɛtˌɔf, -ˌɒf /

noun

1. something that counterbalances or makes up for something else, as compensation for a loss.

2. Accounting. a counterbalancing debt or claim, especially one that cancels an amount a debtor owes.

3. 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.

4. something used to enhance the effect of another thing by contrasting it, as an ornament.

5. Printing. offset.

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Etymology

Origin of setoff

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

Example Sentences

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

From Washington Post

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

From New York Times

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

From Literature

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

From Salon

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

From Washington Times