Tax Refund
/ˈtæks rɪˌfʌnd/
Definitions
- (n.) A repayment made by a government to a taxpayer when the tax paid exceeds the tax liability determined by law.
After filing her tax return, she received a tax refund from the IRS.
Forms
- tax refund
- tax refunds
Related terms
See also
Commentary
A tax refund arises only when there is an overpayment of tax; proper calculation of tax liability is essential to determine eligibility for a refund.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.